Govt rolls out $10 bn red carpet for chipmakers
NEW DELHI : The government approved a $10 billion incentive plan to establish chip and display industries in India as it seeks to become an electronics manufacturing hub and cut reliance on supplies from China, with which it has fraught relations.
The production-linked incentives (PLI) will be offered to companies over six years, the government said after a cabinet meeting on Wednesday. It expects to attract investments worth ₹1.70 trillion for more than 20 units.
Two chipmakers and two display manufacturers are expected to set up units in the next four years under the plan, a government official said, adding that each of them will invest ₹30,000-50,000 crore. Further, 20 companies, including chip packaging firms and compound semiconductor companies that make chips for the automotive sector, power equipment, etc., are expected to be operational in three years, with investments in the range of ₹3,000-5,000 crore.
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