: Rs 76,000 cr semiconductor proposal likely to be discussed during Cabinet meeting today #FinanceIndia #StockMarketNEWS Rs 76,000 cr semiconductor proposal likely to be discussed during Cabinet meeting

@StockMarketNEWS Thu 16 Dec, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Rs 76,000 cr semiconductor proposal likely to be discussed during Cabinet meeting today #FinanceIndia #StockMarketNEWS
Rs 76,000 cr semiconductor proposal likely to be discussed during Cabinet meeting today New Delhi, 15 Dec (KNN) As per several media reports, the Cabinet is expected to take up INR 76,000 crore semiconductor proposal today during its meeting.

The approval of Cabinet is the first step which will then be passed to the Ministry of Electronics and IT for finalization.

The Central government is aiming to establish India’s first ever semiconductor manufacturing plant by June-July 2022, and before that a proposal seeking commercial bids from companies will be released.

Making India self-reliant in semiconductors has become a necessity due to be crunch in supply chain.

In December last year approximately 15-20 firms had shown interest to participate in setting up semiconductor fabs in India which did not succeed.

Hence the government is looking for an incentive scheme that will address the requirement of the industry, to which Ashwini Vaishnaw, Minister of Electronics and IT told FT that, we are working on developing the complete semiconductor ecosystem for designing, manufacturing and packaging semiconductor, ensuring sucess.

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