News

Govt sweetens package on semiconductor amid talks with Taiwan co, Tata


NEW DELHI: The government has contacted Taiwan’s leading global semiconductor manufacturer TSMC and Tata Corporation to invest in semiconductors. By far the most significant investment in this sector after the announcement of the package has been made by the joint venture Vedanta-Foxconn, which intends to establish a factory in Gujarat with proposed investments of around 1 ,5 lakh Rs. The hunt for investors comes as the Cabinet on Wednesday approved an expansion of the benefits already promised in the production-linked investment program.
The government will now provide 50% financial support to chipmakers for industries such as cars and electric vehicles, telecommunications, computers, IoT devices and servers. Many of these have previously received support, ranging from 30% to 50%. The new package also now promises 50% support for those involved in semiconductor packaging and verification work, a key job in the semiconductor production line.
MoS Electronics and Information Technology Minister Rajeev Chandrasekhar said that while in the past the highest incentives were given to top-tier silicon wafers used for the high-tech chips needed for mobile devices and computers high, the government wants to attract players across the ecosystem.
The minister said that the government is in talks with many chip manufacturers looking to invest in the production eco-system, but declined to name any companies that are participating.





Source link

news7d

News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button