 "semiconductor")
The government will start receiving applications from companies for setting up of semiconductor fabs, display units and for other related schemes from January 1, 2022.
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.
Announcing that companies can begin applying under the scheme from January 1, 2022, IT Minister Ashwini Vaishnaw on Thursday exhorted players to leverage this "good opportunity" and "right time" to set up their manufacturing operations in the country.
The IT ministry has also released guidelines for implementation of the scheme and a semiconductor portal has been launched for accepting and processing applications from interested players.
"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," Vaishnaw said.
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Asked if the government expects investments to come in from large players such as Intel under the mega scheme, Vaishnaw declined to comment on specific companies.
"Please do not ask me names of the companies..let the applications come in the portal," he said.
"Response is good" and the government is "very hopeful", he emphasised.
On larger message to global giants at a time when India is set to woo semiconductor players through the mega scheme, the minister said, "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."
It is pertinent to mention here that under the Rs 76,000-crore scheme approved for development of semiconductors and display manufacturing ecosystem in India, incentives have been lined up for companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging and semiconductor design.
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 one lakh people.
With the semiconductor incentive scheme in place, the government expects investments of around Rs 1.7 lakh crore and 1.35 lakh jobs in the next four years.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
