NEW DELHI: The Union Cabinet on Wednesday approved the much-awaited incentive plan to push manufacturing of semiconductors in the country.
After the Cabinet meeting - which was headed by Prime Minister Narendra Modi - Union ministers Anurag Thakur and Ashwani Vaishnav announced the production linked incentive (PLI) scheme worth Rs 76,000 crore for semiconductor and display board production in India.
"The government has decided to set up a complete ecosystem for semiconductors in the country. It will include design, fabrication, packaging, testing," Vaishnaw said.
'This will strengthen India's journey towards Aatmanirbhar Bharat," he added.
The Rs 76,000 crore scheme will be spread across 6 years.
The Centre plans to establish 20 semiconductor units in the country over the next 2 years.
Semiconductors and their uses
Semiconductors are silicon chips that cater to control and memory functions in products ranging from automobiles, computers and cellphones to various other electronic items.
The usage of semiconductors in the auto industry has gone up globally in recent times with technological advancements and new models coming with more and more electronic features such as bluetooth connectivity and driver-assist, navigation and hybrid-electric systems, besides the engine control unit.
What govt plans to do
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.
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