Cabinet Approves Scheme To Boost Semiconductor Manufacturing

Please Subscribe and Get Daily Updates in Your Inbox!!!

Please Subscribe and Get Daily Update in Your Inbox
Loading

17 December 2021 Current Affairs:The Union Cabinet approved a Rs 76,000 crore scheme to increase semiconductor and display production in India on 15, December.

Highlights:

  • This plan was approved in order to promote India as a worldwide hub for high-tech manufacturing and to attract multinational chip manufacturers.
  • It would also boost India’s goal to become self-sufficient in electronics production by attracting significant investment.
  • This initiative will result in the creation of 35,000 specialized jobs and one lakh indirect jobs.
  • This is crucial because, in the current geopolitical environment, reliable suppliers of semiconductors and displays are critical. 
  • These are crucial components of critical information infrastructure security. 
  • Furthermore, this strategy was approved at a time when the globe is experiencing a major shortage of semiconductors, a critical component of automobiles and electrical devices. 

Incentives

  • Companies working in silicon semiconductor fabs, compound semiconductor fabs, display fabs, sensors fabs, silicon photonics, semiconductor packaging, and semiconductor design will benefit from the scheme. 
  • The government expects roughly Rs 1.7 lakh crore in investments and 1.35 lakh employment in the next four years as a result of the implementation of this scheme.
  • The government is expected to build at least two greenfield semiconductor fabs, two display fabs, and 15 units of Compound Semiconductors & Semiconductor Packaging under the semiconductor strategy.

DLI (Design Linked Incentive) Program

  • The government will assist 100 domestic semiconductor, systems & IP cores, design for Integrated Circuits (ICs), System on Chips (SoCs), Chipsets, and semiconductor linked design under the Design Linked Incentive (DLI) scheme. 
  • This program will provide a financial reward of up to 50% of eligible expenses.

Leave a Reply

Your email address will not be published.