INDIA REPORT
The India Cabinet has cleared a Rs 76,000-cr incentive plan for semiconductors that will set up more than 20 semiconductor design, components manufacturing and display fabrication units over the next six years.
A specialized and independent “India Semiconductor Mission (ISM)” was launched Dec. 29, 2021, to drive the long-term strategies for developing a sustainable semiconductor and display ecosystem in India. The ISM will act as the nodal agency for efficient and smooth implementation of the schemes on semiconductors and display ecosystem.
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On December 15, 2021, India’s Union Cabinet approved the Program for Development of Semiconductors and Display Manufacturing Ecosystem in India, with an outlay of US$10 billion (INR 760 billion) for the development of a sustainable semiconductor and display manufacturing ecosystem in India.
The Minister of Electronics and Information Technology, Ashwini Vaishnaw, has announced that all programs have been uploaded on the website and a portal has been prepared for receiving the applications.
It is hoped the Program for Development of Semiconductors and Display Manufacturing Ecosystem in India will position the country as a global hub for electronic system design and manufacturing. The much-needed package for the sector comes at a time when India is facing a component shortage that has crippled the Indian automotive, consumer electronics, and mobile handset manufacturers. PSR
Aditya Kondejkar is Research Analyst – South Asia Operations for Power Systems Research
