The Indian government plans to build more than 20 semiconductor design, components manufacturing, and display fabrication (fab) units in the next six years in the country. People worldwide are having trouble getting semiconductors, which could make India a hub for electronics at the same time.
Key Highlight:
- The Indian government plans to build more than 20 semiconductor design, components manufacturing, and display fabrication (fab) units in the next six years in the country.
- People worldwide are having trouble getting semiconductors, which could make India a hub for electronics at the same time.
- Next week, the Cabinet will likely look at this plan, and more information will follow.
- Incentives worth 76,000 crores are said to be planned for semiconductor manufacturing.
Indian semiconductor manufacturers have been eagerly awaiting the cabinet approval of a plan for a new semiconductor manufacturing plant. The plan was reportedly being planned for a while but finally received approval from the cabinet in late January. The Indian government is willing to give financial incentives worth crores to companies who will set up these plants.
Incentives worth 76,000 crores are said to be planned for semiconductor manufacturing in the country, according to a report in a newspaper. According to a report by ET, more than 20 units will be set up in India in the next six years by the government for things like semiconductor design, parts manufacturing, and display fabrication (fab). Next week, the Cabinet will likely look at this plan, and more information will follow.
The Indian government announced incentives worth crores of rupees to semiconductor manufacturing companies that plan to set up units in the country.
Once the Cabinet gives the go-ahead, the policy for semiconductors will be made, and applications will be sent to companies that want to invest. For example, the Indian government wants to set up two fab units to make semiconductor displays and ten fab units to create and design other parts. When the semiconductor shortage is hurting businesses all over the world, this could help India become an electronics hub.
They are significant parts of making many different types of electronic devices. People worldwide are having trouble getting their hands on batteries for everything from smartphones to laptops to cars and more. These things make it hard for people to get products out of the country, which means prices are going up and there aren’t many units to sell. The report says that because of a shortage of semiconductors, smartphone companies are now switching to high-resolution image sensors but with fewer cameras on their phones.
According to a report in ET, the semiconductor policy is said to “help India’s manufacturing base grow,” according to a report in ET. Once the Cabinet gives the go-ahead, the ministry of electronics and information technology (MeitY) will work out the details and invite interested companies to apply, the report said. Before the Indian government had a lot of incentive programs for semiconductor manufacturing that didn’t work, so it will be interesting to see how this one works.
In the last few months, big companies like Samsung and Intel have invested a lot of money in the United States. A $17 billion semiconductor factory will be built in Texas by Samsung, the company said. Another $20 billion will go toward two new fab manufacturing plants in Arizona, which Intel will also spend. A global company could also invest in India, which would lessen the country’s need to buy semiconductors from outside. This would also open up the country to making its semiconductors at home.
