: Centre to give Rs. 76,000 cr incentive to establish 20 semiconductor manufacturing units in 6 years #FinanceIndia #StockMarketNEWS Centre to give Rs. 76,000 cr incentive to establish 20 semiconductor

@StockMarketNEWS Mon 13 Dec, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Centre to give Rs. 76,000 cr incentive to establish 20 semiconductor manufacturing units in 6 years #FinanceIndia #StockMarketNEWS
Centre to give Rs. 76,000 cr incentive to establish 20 semiconductor manufacturing units in 6 years New Delhi, 10 Dec (KNN) To meet the shortage of semiconductors and make India the hub of electronics, the Government of India is planning to provide INR 76,000 crore worth incentives to set up over 20 semiconductor design, components manufacturing and display fabrication (fab) units over the next six year.

As per ET, "Through various PLI (production linked incentive) schemes, the Centre has tried to broaden the scope of manufacturing and export from India while the semiconductor policy will help deepen Indias manufacturing base.”

Through this plan it will target one to two fab units for displays, and 10 units each for designing and manufacturing components, as semiconductors are used for making a wide range of products ranging from automobiles to handsets.

The Cabinet will receive the scheme next week for approval and after that, the ministry of electronics & IT (MeitY) would work out the granular details and invite applications, as published in ET.

The shortage of semiconductors has created widespread impact across various industries, and has drastically interrupted the supply chain affecting sales during the festive season.

Investment remains a big step in this development which is crucial for auto sector and the economy.

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