semiconductor: $25 billion investment expected to flow into India’s new semiconductor plan
The current investment expectation is to the tune of at least $25 billion, the report quoted Rajeev Chandrasekhar, MoS for electronics and technology, as saying.
Changes in production-linked incentive (PLI) scheme for manufacturing of semiconductors were approved by the Cabinet on Wednesday.
An outlay of Rs 76,000 crore (around $10 billion) was recently announced for the segment under PLI scheme. The outlay is for the development of a semiconductor and display manufacturing electronics ecosystem in the country.
A report by the India Electronics & Semiconductor Association (IESA) and Counterpoint Research sees the semiconductor component market in the country touching $300 billion in cumulative revenues by 2026.
PLI and Make in India will likely boost local sourcing of semi-components in near future, the report said.