The US-based chipset maker announcement came in the back drop of recent Union Cabinet’s decision on semiconductors that will encourage research and innovation
Chipset maker, Intel, is planning to set up its semiconductor manufacturing unit in India. The US-based chipset giant announcement came in the back drop of recent Union Cabinet’s decision on semiconductors that will encourage research and innovation in the sector and also boost manufacturing, strengthening the 'Aatmanirbhar Bharat' programme. The Minister for IT and Electronics, Ashwini Vaishnaw, welcomed Intel to India by tweeting. He wrote, “Intel - welcome to India."
Intel - welcome to India. https://t.co/1Wy90HfAjy
— Ashwini Vaishnaw (@AshwiniVaishnaw) December 28, 2021
The Union Cabinet approved a 76,000-crore policy boost for semiconductor and display manufacturing ecosystem in the country in a bid to position India as a global hub for hi-tech production.
Announcing the decision of the Cabinet, Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics.
The scheme is expected to usher in a new era in electronics manufacturing by providing a globally competitive incentive package to companies in semiconductors and display manufacturing as well as design. It will strengthen India's technological prowess in these areas of strategic importance and economic self-reliance.
The programme will give an impetus to semiconductor and display manufacturing by facilitating capital support and technological collaborations.
The government has lined up an attractive incentive support for companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging and semiconductor design.
The scheme for setting up of semiconductor fabs and display fabs in India will extend fiscal support of up to 50 per cent of project cost to eligible applicants.
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