Modi said in a webinar of the Department for Promotion of Industry and Internal Trade (DPIIT), “We need to focus on Make in India and manufacturing strong and good quality products. We have to become self-reliant in semiconductors. Ours. The goal is to make India a marketplace for the world as well. This effort will boost manpower and skill development. This will make us stronger. There will be many opportunities through Make in India.”
The central government has received proposals from five companies for setting up electronics chip and display manufacturing plants. In this, an investment of about Rs 1.53 lakh crore will be made. Vedanta and Foxconn’s joint venture, IGSS Ventures and ISMC has informed about setting up of an electronic chip manufacturing plant with an investment of $13.6 billion (about Rs 1.02 lakh crore). For this, help of $ 5.6 billion (about Rs 42,000 crore) has been sought under the government’s incentive scheme. The government will provide financial assistance up to 40 percent for chips of 28-45 nanometers and up to 30 percent for chips up to 45-65 nanometers. Design and innovation are also being given great importance by the government.
Vedanta and Elest have proposed an investment of $6.7 billion in setting up display manufacturing units used in mobile phones and laptops. For this, assistance of $ 2.7 billion has been sought under the incentive scheme. The central government is also giving incentives on chip design and product design. This has increased the interest of foreign companies to set up units in this segment in India. To attract semiconductor and display manufacturers, the central government at the end of last year approved a $10 billion incentive scheme. With this, the country’s position regarding semiconductors can be very strong in the coming years.
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