The Union Cabinet approved a ₹76,000 crore scheme to boost semiconductor and display manufacturing in the country, taking the total amount of incentives announced for the electronics sector to ₹2.3 lakh crore.
The comprehensive programme for the “development of sustainable semiconductor and display ecosystem in the country” is aimed at making India a global hub of electronic system design and manufacturing.
The scheme would provide fiscal support of up to 50% of the project cost for setting up semiconductor and display fabrication units.
The Union government will work with the States to set up high-tech clusters with the required infrastructure such as land and semiconductor-grade water.
In order to drive the long-term strategies for a sustainable semiconductors and display ecosystem, a specialised and independent ‘India Semiconductor Mission’ will be set up.
It will act as the nodal agency for efficient and smooth implementation of the schemes on semiconductors and display ecosystem.
The “chips to start-ups” programme would develop 85,000 well-trained engineers.
Semiconductor designers would be given the opportunity to begin start-ups. The government would bear 50% of the expense under the design-linked incentive scheme.
The entire programme would lead to 35,000 high-quality direct jobs and indirect employment for 1 lakh persons. The scheme was expected to attract investment of ₹1.67 lakh crore and lead to production worth ₹9.5 lakh crore.