Automakers and technology companies are grappling with a global shortage of semiconductors. (File)
New Delhi:
India has approved a $10 billion incentive plan to attract semiconductor fabricators and display makers, the country’s technology minister said on Wednesday. said Wednesday, as part of efforts to establish itself as a global electronics manufacturing hub.
A government source told Reuters.
Vedanta Group also wants to set up a display factory in India, the source added.
Technology Minister Ashwini Vaishnaw said that New Delhi has also approved a design-linked incentive (DLI) scheme to encourage 100 local companies to design semiconductors for integrated circuits and chipsets.
The Prime Minister (Narendra Modi) made a historic decision today that will help develop the complete semiconductor ecosystem – from semiconductor chip design to fabrication, packaging and testing, he said. – in the country”.
India, the world’s second-largest smartphone maker, announced the plan at a time when automakers and technology companies are grappling with a global shortage of semiconductors.
Tata Corporation, one of India’s largest conglomerates, is also venturing into business and is in talks with three states to invest up to $300 million to set up a semiconductor assembly and testing unit. , Reuters reported.
(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)
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