Union Cabinet approved a 76,000 crore scheme on Wednesday to encourage semiconductor and display manufacturing in the country


Posted on 15 December 2021


For Illustration Purpose Only.

According to a government statement, the Union Cabinet approved a 76,000 crore scheme on Wednesday to encourage semiconductor and display manufacturing in the country, bringing the total amount of incentives announced for the electronics sector to 2.30 lakh crore. “The programme will usher in a new era in electronics manufacturing by providing a globally competitive incentive package to companies in semiconductors and display manufacturing as well as design,” the government declared. The plan would provide financial assistance for semiconductor and display fabrication units worth up to 50% of the project cost. The government also stressed that the Centre will collaborate with the States to establish high-tech clusters with the appropriate infrastructure, such as land and semiconductor-grade water.


Key Points

  • According to a government statement, the Union Cabinet approved a 76,000 crore scheme on Wednesday to encourage semiconductor and display manufacturing in the country, bringing the total amount of incentives announced for the electronics sector to 2.30 lakh crore.

  • The government also stressed that the Centre will collaborate with the States to establish high-tech clusters with the appropriate infrastructure, such as land and semiconductor-grade water.