Semicon India Program: 5 companies gave investment proposal of Rs 1.50 lakh crore to India for chip units

Semicon India Program: 5 companies gave investment proposal of Rs 1.50 lakh crore to India for chip units

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Chip Production: The chip crisis of the auto sector in the country seems to be resolved in the future. 5 big companies of the world have given investment proposal to the government to set up electronic chip and display manufacturing plants in the country. This proposal is worth $ 20.5 billion (Rs 1.53 lakh crore). This information has been received in a government statement.

Vedanta Foxconn JV, IGSS Ventures and ISMC have proposed to the government to set up an electronic chip manufacturing unit with an investment of $13.6 billion. Along with this, these companies have also sought help of $ 5.6 billion from the central government under the ‘Semicon India Program’ started to promote semiconductor manufacturing.

information given by the government
The government has received a good response in this greenfield segment of semiconductor and display manufacturing. The Ministry of Electronics and Information Technology has given this information by issuing a statement.

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Fast growing semiconductor market
Apart from this, two companies, Vedanta and Elest, have proposed to set up a display manufacturing plant with an estimated investment of $ 6.7 billion, as well as asked the government to set up display fabs in India, the statement further said. Under the plan, incentives of $ 2.7 billion have been sought. The semiconductor market of the South Asian country is estimated to reach $63 billion by 2026 as against $15 billion in 2020.

Design Linked Incentive Scheme
In addition, SPEL Semiconductor, HCL, Sirma Technology and Velankey Electronics have registered themselves for semiconductor packaging, while Rutonsa International Rectifier has registered itself for Compound Semiconductor. Along with this, three companies Terminus Circuits, TriSpace Technologies and Curie Microelectronics have also applied under the Design Linked Incentive Scheme.

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India is still dependent on other countries
Let us tell you that last year there was a huge shortage of semiconductors in the world including India. Due to which its negative effect was seen on the automobile and other sectors. There was a huge impact on the production of companies in India too. India has to depend on the countries of the world for semiconductors and other electronic chips. To avoid such a huge shortage in India, the government is now encouraging the manufacturing of semiconductors or chips in India itself.

Tags: auto, Auto News, Business news in hindi, Investment

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