Page 28 - Tata Electronics News Today

Semiconductor Incentives: In addition to the ATMP (assembly, testing, marking, packaging) plants announced by Micron, Tata Electronics and Kaynes Corp others like the HCL Group and Tamil Nadu-based Murugappa Group are also finalising their plans to enter the sector.

The pari-passu or equal footing method for disbursal of incentives is one where the government releases the funds to successful applicants as and when they invest or achieve certain milestones.

Fintech startup Juspay is building a full-stack payment gateway that can offer card, wallet and UPI-based transactions. This and more in todays ETtech Morning Dispatch.

The Centre will launch a revised incentive scheme of up to ₹10,000 crore to promote the establishment of electronic and semiconductor component plants in the country, top officials told ET.

The new incentive plan, a revised iteration of the existing Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), is likely to be launched early next year

This marks the formal entry of another Apple supplier into India, bolstering the expanding ecosystem of Apple as well as electronic component manufacturers in the country.

As per Apples supplier list for the fiscal year 2022, Corning has facilities that supply to Apple in Fujian, Jiangsu and Zhejiang in mainland China, Chungcheongnam-Do in South Korea, Taiwan and Kentucky, New York.

The company will collaborate with its Indian partner, Optiemus Infracom, for the new facility. While no specific timeline has been committed, sources said, adding that they estimate the construction phase to last approximately a year.

The State High-Level Clearance Committee (SHLCC), headed by Chief Minister Siddaramaiah, briefing the media at the conclusion of the 62nd meeting of the SHLCC held in Belagavi, made the announcement. Minister for large and medium industries, and infrastructure development, MB Patil said that the SHLCC approved Foxconns proposal to invest an additional Rs. 13,911 crore. The company has already received approval to invest Rs. 8,000 crore in the state, Patil said

Foxconn is making an investment of Rs 8,500 crore for the manufacturing unit, which is expected to generate over one lakh employment opportunities within the state in the next ten years.