INDIA SEMICONDUCTOR MISSION – KEY FACTS
Highlights
- Under the scheme, interested companies which seeks to tap the Rs 76,000-crore incentives earmarked by Central government for developing semiconductors and displaying manufacturing ecosystem in India will be able to start applying for it from January 1, 2022.
- A portal for the scheme has been prepared in order to receive the applications.
About India Semiconductor Mission (ISM)
- ISM is a specialised and independent business division of Digital India Corporation.
- The mission has been set up with the objective of building a vibrant semiconductor besides displaying ecosystem in order for India to emergence as a global hub in electronics manufacturing and design.
- It is authorised to negotiate with applicants under semiconductor fab scheme and display fab scheme.
- It has also been given autonomy to decide appropriate technology mix, node generation, applications, capacity etc.
- The scheme was launched with the aim of attracting large investments in manufacturing AMOLED based display panels or TFT LCD.
Background
- This scheme was notified by the Ministry of Electronics and Information Technology on December 21, 2021.
Fiscal Support
- Ministry has approved a fiscal support of up to 50 per cent of the project cost, in order to set up certain variants of silicon-based semiconductor fab across India.
- Financial support will be provided for six years from the date of approval. A support of around Rs 12,000 crores per fab has been mandated under the scheme to set up display fabs in India.
- Overall, the Central government has committed to provide Rs 2.30 trillion support to position India as a global hub for electronics manufacturing.