Semiconductor fabrication manufacturers, display unit makers and other allied component makers will be able to put in their applications for setting up shop in India from January 1, 2022.
Minister of electronics and information technology Ashwini Vaishnaw said Thursday that it was the ‘right time’ for companies to set up their operations in India and that they should leverage the ‘good opportunity.’
Companies interested in applying will be able to do so through the semiconductor portal which will be used for accepting and processing the applications.
"All the schemes have been notified, uploaded on the website and a portal has been prepared for receiving the applications. So January 1, 2022 onwards, we will start receiving the applications,” the minister said in a press briefing on Thursday.
When asked whether companies such as Intel would participate under the mega Rs 76,000 crore incentive package, the minister said Please do not ask me names of the companies. Let the applications come in the portal. The response is very good and (we’re) hopeful,” he said.
Earlier this month, the government approved a Rs 76,000-crore scheme to boost semiconductor and display manufacturing in the country, in a bid to position India as a global hub for hi-tech production, and attract large chip makers.
''This is a real opportunity for all big and small players and the right time for companies to come and set up their manufacturing facilities in India. So welcome to India,'' the minister added.
India has lined up a slew of incentives for companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging and semiconductor design, under the Rs 76,000-crore scheme approved for local development of semiconductors and display manufacturing ecosystem.
The move is expected to further India's ambitions to be self-reliant in electronics manufacturing, bring massive investments and result in 35,000 specialised jobs apart from indirect employment for 1 lakh people.
With the semiconductor incentive scheme in place, the government expects investments of around Rs 1.7 lakh crore in the next four years, with at least two large semiconductor fab makers and 15-20 other units to be set up in India.