Government revamps semiconductor scheme, aims to attract global investments
The government's proactive approach in incorporating feedback from industry bodies has attracted praise from Sanjay Gupta, Chairman of the Indian Electronics and Semiconductor Association (IESA). He commended the government for simplifying the scheme and creating a more attractive investment environment for organisations worldwide.
The government has tweaked the production-linked incentive (PLI) scheme for semiconductors and display fabs. The cabinet will now approve all proposals for setting up these units. Earlier in the case of compound semiconductors and silicon photonics, the secretary of the Ministry of Electronics and IT, or the minister, was responsible for granting approvals.
As per the changes, there is no minimum requirement for applicants to set up display fab units. The 45-day window for applications has also been don away with. The applications will now be evaluated on an ongoing basis.
The move is expected to facilitate more players to make semiconductors in the country.
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The government's proactive approach in incorporating feedback from industry bodies has been praised by Sanjay Gupta, Chairman of the Indian Electronics and Semiconductor Association (IESA). He commended the government for simplifying the scheme and creating a more attractive investment environment for organizations worldwide.
Gupta stated, “I would compliment the government for being very proactive in listening to industry bodies like us and navigating through this very ambitious dream of making India the semiconductor leader in the world.”
Gupta further emphasised the significance of the government's decision to merge various compound semiconductors and display fab units into a single entity, making the overall scheme simpler, yet powerful. This integration is expected to enhance India's competitiveness in the semiconductor industry and encourage more global organisations to invest in the country.
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