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India approves $10 billion plan to attract semiconductor and display manufacturers

India announced the plan at a time when automakers and technology companies are grappling with a global shortage of semiconductors.

India has approved a $10 billion incentive plan to attract semiconductor fabricators and display makers, the country’s technology minister said on Wednesday. said Wednesday, as part of efforts to establish itself as a global electronics manufacturing hub.

A government source told Reuters.

Vedanta Group also wants to set up a display factory in India, the source added.

Technology Minister Ashwini Vaishnaw said that New Delhi has also approved a design-linked incentive (DLI) scheme to encourage 100 local companies to design semiconductors for integrated circuits and chipsets.

“… Prime Minister (Narendra Modi) today made a historic decision that will help develop the complete semiconductor ecosystem – from semiconductor chip design to fabrication, packaging and testing – in the country. “, he said.

India, the world’s second-largest smartphone maker, announced the plan at a time when automakers and technology companies are grappling with a global shortage of semiconductors.

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Tata Corporation, one of India’s largest conglomerates, is also venturing into business and is in talks with three states to invest up to $300 million to set up a semiconductor assembly and testing unit. , Reuters reported.

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https://www.carandbike.com/news/india-approves-10-billion-plan-to-lure-semiconductor-and-display-makers-2652749 India approves $10 billion plan to attract semiconductor and display manufacturers

Sarah Ridley

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