What is the Rs 76,000 crore semiconductor production scheme sanctioned by the relief / auto government to the auto industry? Find out who will benefit
The Modi government has approved a Rs 76,000 crore scheme for semiconductor production.
Approval of Rs 76,000 crore scheme for semiconductor production
2.3 lakh crore incentive under India Semiconductor Mission
Semiconductors are required for electronics items
Informing about the decisions taken at the Modi cabinet meeting, Union Minister Ashwini Vaishnav said the government would spend Rs 76,000 crore in six years on an ambitious plan to set up an entire ecosystem of semiconductor and display manufacturers. This decision will also fund start-ups. Union Minister Ashwini Vaishnav said an incentive of Rs 2.3 lakh crore would be provided under the India Semiconductor Mission.
Semiconductors are required for electronics items
Semiconductors are used in the manufacture of all types of electronic products. Other types of products including smartphones, laptops, cars will be of great help. Companies that make semiconductors will benefit greatly from the government's plan.
Who will benefit?
The use of semiconductors in the manufacture of all types of electronic products can benefit the auto industry, the electronics industry.
Incentives will be given in 3 ways
Union Minister Ashnivi Vaishnav said incentives could be given in three ways in the Rs 76,000 crore PLI scheme, of which 25 per cent incentive could be given on capital compound semiconductor wafer fabrication, assembling, testing, packaging and manufacturing unit costs.
