The incentives include a 50% capital subsidy for the establishment of semiconductor fabs, as well as a 25% capital subsidy for the establishment of display fabs. The incentives also include a waiver of import duties on capital goods and raw materials, as well as a tax holiday for the first five years of operation.
India's manufacturing sector is experiencing a notable boom, attracting attention from investors and economists alike. With favorable government policies, a growing skilled workforce, and a vast domestic market, the country has emerged as a manufacturing powerhouse on the global stage. Industries like automobiles, electronics, pharmaceuticals, and textiles have witnessed substantial growth, bolstering India's economic prospects.
Mitsubishi Electric has expanded its semiconductor lab program in India, adding three new institutions to the program. The program provides students with hands-on training in semiconductor technology, and helps to prepare them for careers in the semiconductor industry.
In a significant development for India's semiconductor industry, the Vedanta-Foxconn joint venture has resubmitted its application for a silicon fabrication plant.
India is poised to achieve a major milestone in its technological advancement journey with the upcoming launch of its first semiconductor fabrication plant. The move is expected to boost the nation's efforts towards achieving chip self-reliance, reducing dependency on imports, and fostering innovation in the semiconductor industry.
The HCL Group is exploring a $300 million venture in India's booming semiconductor industry. The company is planning to set up an assembly, testing, marking, and packaging (ATMP) facility for semiconductors. The project is expected to create over 1,000 jobs and boost India's chip manufacturing capabilities.
