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India is set to become an important player in the global semiconductor supply chain with $10bn in incentives provided to encourage local manufacturing of chips, according to Minister of State for Electronics and Information Technology Rajeev Chandrasekhar. The scheme, which attracted companies such as Vedanta and Taiwan's Foxconn, aims to create 85,000 globally skilled talent in the very large scale integration sector.

Semiconductor PLI: India is set to become an important player in the global semiconductor supply chain with USD 10bn in incentives provided to encourage local manufacturing of chips, according to Minister of State for Electronics and Information Technology Rajeev Chandrasekhar. The scheme, which attracted companies such as Vedanta and Taiwan's Foxconn, aims to create 85,000 globally skilled talent in the very large scale integration sector.

The first phase of Polymatech’s semiconductor chip manufacturing and packaging facility will have the capacity to produce 250 million chips per year.

The scheme for setting up of semiconductor fabs and display fabs in India shall extend fiscal support of up to 50 per cent of project cost on the pari-passu basis.