Chipset maker Intel is planning to set up its semiconductor manufacturing unit in India and is likely to apply for incentives under the new scheme to promote manufacturing for development of a sustainable semiconductor and display ecosystem.
The announcement came after the recent Union Cabinet’s decision on semiconductors that will encourage research and innovation in the sector and also boost manufacturing, strengthening the 'Atma Nirbhar Bharat' programme.
The Minister for IT and Electronics Ashwini Vaishnaw welcomed Intel to India by tweeting “Intel - welcome to India.”
The Union Cabinet approved a Rs 76,000-crore policy boost for semiconductor and display manufacturing ecosystem in the country in an attempt 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 percent of project cost to eligible applicants.
The programme will give an impulsion to semiconductor and display manufacturing by facilitating capital support and technological collaborations.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
