Expect Investments Of Rs 1.7 Lakh Crore Under Semiconductor Scheme: Minister
NDTV
The Union Cabinet approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in a bid to position India as a global hub for hi-tech production.
The government expects investments of around Rs 1.7 lakh crore and 1.35 lakh jobs to be created in the next four years under the incentive scheme for semiconductors approved by the Cabinet on Wednesday, Union Minister Ashwini Vaishnaw said.
The Union Cabinet approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in a bid to position India as a global hub for hi-tech production. The announcement comes at a time when there has been a global shortage of electronic chips and many semiconductor companies are expanding their capacities.
Mr Vaishnaw said the Rs 76,000 crore incentive plan is only the beginning for setting up the semiconductor ecosystem in the country as Prime Minister Narendra Modi has set a 20-year vision to make India a hub of the electronics chip industry.
"We expect investment of around Rs 1.70 lakh crore in the next four years. There are proposals already in the pipeline. We expect projects for compound semiconductors to roll out in the next 3-4 months."
