Information Technology Minister Ashwini Vaishnaw launched the India Semiconductor Mission on Wednesday. Speaking to journalists, Vaishnaw stated that corporations that are keen on tapping the Rs 76,000-crore incentives earmarked, by the centre, for growth of semiconductors and display manufacturing ecosystem in India can start making use of for the identical from January 1.
“The schemes have been notified and uploaded on the website. A portal for the same has been prepared for receiving the applications. Come January 1, 2022 onwards, we will start receiving the applications,” Vaishnaw stated.
The India Semiconductor Mission (ISM) is a specialised and impartial Business Division throughout the Digital India Corporation. It has been institutionalised with the intention to construct a vibrant semiconductor and display ecosystem to allow India’s emergence as a worldwide hub for electronics manufacturing and design.
The mission is allowed to barter with the candidates below the Semiconductor Fab Scheme and the Display Fab Scheme. This mission has been given the autonomy to determine the suitable know-how combine, functions, node era, capability, amongst others and suggest the construction and quantum of fiscal help for the chosen candidates. A fab is brief for fabrication plant the place uncooked silicon wafers are processed and was built-in circuits.
These schemes had been among the many 4 notified by the Ministry of Electronics and Information Technology on December 21. A fiscal help of as much as 50 per cent of the venture price has been accepted for establishing sure variants of silicon-based semiconductor fab in India. According to the coverage notification, the monetary help is for six years from the date of approval. Semiconductor Fabs arrange in India can even be eligible for a purchase order choice in procurement of digital merchandise by the federal government.
A help of as much as Rs 12,000 crores per Fab has been earmarked below the scheme for establishing Display Fabs in India. This scheme goals at attracting giant investments in manufacturing TFT LCD or AMOLED based mostly display panels.
A Scheme for Setting up of Compound Semiconductors / Silicon Photonics / Sensors (together with MEMS) Fabs and Semiconductor ATMP / OSAT amenities within the nation extends fiscal help of 30 per cent of capital expenditure to accepted units. It is anticipated that at the very least 15 such units of Compound Semiconductors and Semiconductor Packaging are anticipated to be established below this scheme.
A Design Linked Incentive (DLI) Scheme presents an incentive of as much as 50 per cent of eligible expenditure and product deployment linked incentive of 4 to six per cent on web gross sales for 5 years.
The Union Cabinet had accepted these schemes on December 15. According to official estimates, the centre has dedicated a help of Rs 2.30 lakh crore for positioning India as a worldwide hub for electronics manufacturing