India Semiconductor Mission

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31 December 2021 Current Affairs:On December 29, 2021, Information Technology Minister Ashwini Vaishnaw launched the India Semiconductor Mission.

Highlights:

  • Interested companies will be able to apply for the scheme beginning January 1, 2022, if they want to take advantage of the Rs 76,000-crore incentives set aside by the central government for developing semiconductors and demonstrating India’s manufacturing ecosystem.
  • In order to receive applications for the scheme, a portal has been created.
  • The India Semiconductor Mission is a government-led initiative to develop semiconductors in India (ISM)
  • Digital India Corporation’s ISM is a specialized and self-contained business division.
  • The mission’s goal is to create a thriving semiconductor and display ecosystem so that India can become a global leader in electronics manufacturing and design.
  • It has the authority to negotiate with applicants for the semiconductor and display fab schemes.
  • It also has the authority to choose the appropriate technology mix, node generation, applications, and capacity, among other things.
  • The program was created in order to attract large investments in the production of AMOLED-based display panels or TFT LCDs.
  • The Ministry of Electronics and Information Technology announced this scheme on December 21, 2021.

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