Government of India is in a mood to do two hands with China regarding semiconductorImage Credit source: Representative Photo
From smartphone to washing machine, fridge, TV or laptop, there is no such electronic device in which semiconductor is used. But in this matter the dependence of most of the countries of the world is on China. In such a situation, the Government of India is in a mood to do two hands with China regarding semiconductor, so that India can be made ‘self-reliant’ and an alternative to China for the world. For this, the government has also prepared a mega plan.
The Government of India has now prepared a ‘Modified Semicon India Program’ to promote the manufacturing of semiconductors and displays within the country. This is a plan ahead of the PLI scheme of the government. To take advantage of this revised plan, the government has started accepting applications from today i.e. June 1 itself, which can be done on the portal of India Semiconductor Mission.
Why is the government’s SEMCON program special?
Under the Semicon program, if a company, group of companies or joint venture sets up a semiconductor facility of any number of nodes within the country, the government will provide fiscal assistance equal to 50 percent of the cost. Similar incentive will also be available for setting up a display factory.
If a company wants to apply for this, then it will get about one and a half years from June 1, 2023 to December 31, 2024. At the same time, application for another scheme named Design Linked Incentive can also be made till December 2024. This scheme is also related to the semiconductor sector and so far 26 applications have been received for it.
Semicon program is worth Rs 76,000 crore
The government originally started the SEMCON program in December 2021. A budgetary allocation of Rs 76,000 crore was made for this. Those who have applied for this according to the old scheme, now the government has given them permission to apply according to the new scheme.
This needs to be clarified
ism @Semicon_India is tdy announcing that it will start accepting n considering new applicatns for fabs from new & existing applicants.
First window for more expensive 28nm fabs was kept open for 45days only in Jan2022 and recd 3 applicatns that were https://t.co/1UGBdTk90o
— Rajeev Chandrasekhar 🇮🇳 (@Rajeev_GoI) May 31, 2023
Union Electronics and Information Technology Minister Rajeev Chandrasekhar has also given information about this by tweeting. He told that earlier in January 2022, the application window was opened for Semcon India only for 45 days. Now applications for this are being accepted again. It is expected that this time some existing applicants and some new investors will apply.