Intel is planning to set up semiconductor manufacturing unit in India after GOI offers to subsidise chip manufacturing by up to 50 percent.
- ByStartupStory | December 28, 2021
Intel is planning to set up its semiconductor manufacturing unit in India. The US-based chipset giant announcement came in the backdrop of recent Union Cabinet’s decision on semiconductors that will encourage research and innovation in the sector and also boost manufacturing, strengthening the ‘Aatmanirbhar Bharat’ programme.
The Union Cabinet approved a ₹76,000-crore policy boost for semiconductor and display manufacturing ecosystem in the country in a bid to position India as a global hub for hi-tech production. The scheme for setting up of semiconductor fabs and display fabs in India will extend fiscal support of up to 50 per cent of project cost to eligible applicants. The scheme is expected to usher in a new era in electronics manufacturing by providing a globally competitive incentive package to companies in semiconductors and display manufacturing as well as design. It will strengthen India’s technological prowess in these areas of strategic importance and economic self-reliance.
The Ministry of Electronics and IT displayed a view to driving the long-term strategies for developing a sustainable semiconductors and display ecosystem, a specialized and independent ‘India Semiconductor Mission (ISM)’ will also be established. “Global supply chain imbalance also came in. Today, it is normalising. The industry is saying that in 6-8 months’ time frame, chip shortage situation will get normalised,” the Minister said.
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