India is expecting to court a total investment of at least $25 billion as a result of its incentive scheme meant to boost local manufacturing of chip and display panels, junior IT minister Rajeev Chandrasekhar told reporters on Wednesday.

Moneycontrol

Nine months after it announced a programme for the development of semiconductors and display manufacturing ecosystem in the country, the Union Cabinet has now revised the incentives across the spectrum.

Business Today

In many ways, our world is ‘built’ on semiconductors. With chip demand set to rise over the coming decade, semiconductor manufacturing and design companies would benefit now from a deep analysis of where the market is headed and what will drive demand over the long term. As the impact of digital on lives and businesses has accelerated, semiconductor markets have boomed, with sales growing by more than 20% to about $600 billion in 2021. McKinsey analysis based on a range of macroeconomic assumptions suggests the industry’s aggregate annual growth could average 6-8% a year up to 2030.

The Economic Times

Foxconn’s chairman Young Liu is set to meet Prime Minister Narendra Modi later in November as the Taiwanese major looks to further its ambitious plans for semiconductor manufacturing in the country, two people aware of Liu’s India plans told ET. His visit — the second in the last six months — comes even as the centre examines the INR 1.54 lakh crore proposal by the Vedanta Foxconn joint venture to manufacture semiconductors and display panels in India.

The Economic Times

The Cabinet, on Wednesday, approved modifications to the scheme for semiconductors and display manufacturing ecosystem, with a uniform fiscal support of 50 per cent of the project cost for all technology nodes and setting up of display fabs. “Fiscal support of 50 per cent of capital expenditure on pari-passu basis under scheme for setting up of compound semiconductors, silicon photonics, sensors fab and semiconductor ATMP facilities in India,” said a government statement.

The Hindu Businessline

The Union Cabinet on Wednesday approved uniform fiscal support of 50% project cost for all technology formats for chip fabrication units under the scheme for development of semiconductor and display manufacturing. The Cabinet had in December approved the programme for the sector with an outlay of INR 76,000 crore.

The Hindu

Nine months after announcing a INR 76,000-crore incentive scheme for development of semiconductors and display manufacturing ecosystem in the country, the Union Cabinet on Wednesday sweetened it further by making the fiscal support of 50% of project cost uniform across all technology nodes for setting up of semiconductor fabs.

Financial Express