Government sweetens the package on semiconductor amid talks with Taiwanese company Tata

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New Delhi: The government has approached Taiwan’s top global semiconductor manufacturer TSMC and Tata Group for semiconductor investment. So far, the most significant investment in this sector after the announcement of the package has been made by Vedanta-Foxconn JV, which intends to set up a plant in Gujarat with a proposed investment of around Rs 1.5 lakh crore. The hunt for investors comes after the cabinet on Wednesday approved an extension of the benefits it had been promised under the production-linked investment scheme.
The government will now provide 50% financial assistance to those manufacturing chips for industries such as automobiles and electric vehicles, telecommunications, computers, IoT devices and servers. Many of these were getting support earlier, which ranged between 30% and 50%. The new package now also promises 50% support to those engaged in semiconductor packaging and verification work, a key task in the semiconductor manufacturing chain.
MoS IT and Electronics Minister Rajiv Chandrashekhar said that while earlier, incentives were highest for top silicon fabs used for mobile devices and high-tech chips required for high computation, the government wants to attract players from across the ecosystem. Is.
The minister said the government is in talks with a variety of chip makers who want to invest in the production eco-system, but declined to name any companies that were engaged in it.



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