The US-based chipmaker’s announcement came in the backdrop of a recent decision by the government to encourage research and innovation in the semiconductor space.
Intel, a leading American chipset manufacturer is looking to set up a semiconductor manufacturing plant in India. The announcement comes after the Union Government decides to encourage innovation and research in the semiconductor space while boosting the manufacturing capability under the ‘Aatmanirbhar Bharat’ programme. The Minister for IT and Electronics, Ashwini Vaishnaw tweeted welcoming Intel to India.
The Union Cabinet has approved an almost $10-billion policy boost for semiconductors. The policy aims to put India as a leading nation in the high-tech production space. Announcing the decision of the Cabinet, Ashwini Vaishnaw observed the crucial role of electronics in our lives, and the importance of semiconductors in their manufacturing.
The scheme is set to dawn a new era in electronic production by providing a world-class incentive package to companies in the semiconductor business and display manufacturing as well as design. The programme will encourage the industry by facilitating capital support and technology collaborations.
The government has a host of attractive incentive support for companies that are in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensor fabs, semiconductor packaging and semiconductor design.
The scheme for setting up semiconductor fabs and display fabs will facilitate up to 50 per cent of the project cost to eligible companies.
The Centre will work closely with state governments on high-tech clusters concerning infrastructure, semiconductor grade water, power, logistics and research eco-system, to approve applications for setting up a minimum of two greenfield semiconductor fabs and two display fabs in the country.
Feature Image credit – TechRadar