India Semiconductor Mission – Key Facts
Information Technology Minister, Ashwini Vaishnaw, launched India Semiconductor Mission on December 29, 2021.
Highlights
- Under the scheme, interested companies which seeks to tap the Rs 76,000-crore incentives earmarked by Central government for developing semiconductors and displaying manufacturing ecosystem in India will be able to start applying for it from January 1, 2022.
- A portal for the scheme has been prepared in order to receive the applications.
About India Semiconductor Mission (ISM)
- ISM is a specialised and independent business division of Digital India Corporation.
- The mission has been set up with the objective of building a vibrant semiconductor besides displaying ecosystem in order for India to emergence as a global hub in electronics manufacturing and design.
- It is authorised to negotiate with applicants under semiconductor fab scheme and display fab scheme.
- It has also been given autonomy to decide appropriate technology mix, node generation, applications, capacity etc.
- The scheme was launched with the aim of attracting large investments in manufacturing AMOLED-based display panels or TFT LCD.
Background
This scheme was notified by the Ministry of Electronics and Information Technology on December 21, 2021.
Fiscal Support
Ministry has approved a fiscal support of up to 50 per cent of the project cost, in order to set up certain variants of silicon-based semiconductor fab across India. Financial support will be provided for six years from the date of approval. A support of around Rs 12,000 crores per fab has been mandated under the scheme to set up display fabs in India. Overall, the Central government has committed to provide Rs 2.30 trillion support to position India as a global hub for electronics manufacturing.
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Month: Current Affairs - December, 2021