Atmanirbhar Bharat: Government introduces INR 76,000 crore plan to boost semiconductor manufacturing
By Sanjay Maurya
The Union Cabinet introduces the long-awaited incentive scheme to encourage semiconductor production in the country on 15th December 2021. Union ministers Anurag Thakur and Ashwani Vaishnav launched the production linked incentive (PLI) programme of INR 76,000 crore for semiconductor and display board manufacture in India during a Cabinet meeting led by Prime Minister Narendra Modi.
The government has resolved to establish a full semiconductor ecosystem in the country. Design, manufacture, packaging, and testing will all be part of it, Vaishnaw said. He went on to say, this would boost India’s mission towards Aatmanirbhar Bharat.
Quick Glance:
The INR 76,000 crore project would be implemented over six years. Over the next two years, the Centre intends to set over 20 semiconductor facilities across the country. Sector executives have praised the government’s decision to approve an INR 76,000 crore incentive plan for semiconductor production, calling it a “visionary announcement” for the semiconductor industry that will solidify India’s position in the global semiconductor ecosystem.
The action will help India achieve its goal of being self-sufficient in electronics manufacturing by attracting significant investments and creating 35,000 specialized jobs, in addition to one lakh indirect jobs. The semiconductor scheme also comes at a time when semiconductors, a critical component used in everything from automotive to electrical devices, are in short supply throughout the world.
The COVID-19 epidemic has disrupted supplies, forcing many industrial centres to close for short periods. Companies involved in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging, and semiconductor design have been offered incentives.
At least two greenfield semiconductor fabs and two display fabs are scheduled to be built in the nation, with at least 15 units of compound semiconductors and semiconductor packaging expected to be developed with government assistance under this scheme.
The government believes that global electronics giants like Mediatek, Intel, Qualcomm, and Texas Instruments would be interested in the initiative. Smartphones, vehicles, computers, earphones, and even washing machines are all affected by the global semiconductor shortage. Experts believe the PLI plan would help India establish itself as a worldwide manufacturer of high-priced commodities.
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