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    HomeNationalMeitY’s Revised Initiative to Re-Open Scheme for Investments in Semiconductors Welcomed by...

    MeitY’s Revised Initiative to Re-Open Scheme for Investments in Semiconductors Welcomed by ELCINA

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    The Electronic Industries Association of India (ELCINA) supports the Indian government’s decision to reopen the application window for the Modified Semicon India Programme. This programme will help overcome challenges faced by investors in the current scheme for the semiconductor value chain. The Ministry of Electronics and Information Technology has extended the application window until December 2024 for setting up compound semiconductors, silicon photonics, sensors fab, discrete semiconductors fab, semiconductor ATMP, and OSAT facilities in India. The Design Linked Incentive Scheme application window has also been extended until the same period.

    The India Semiconductor Mission and Scheme for Promotion of Semiconductors announced in January 2022 has garnered interest among global and domestic companies, but on-ground issues have slowed down projects and potential investors are looking for greater clarity and support. The new scheme will be open till December 2024 and allow multiple entities to apply or re-apply and seek incentives. Shri Rajeev Chandrasekhar stated that if more money or capital is required, they will be open to that.

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    ELCINA appreciates the announcement by MoS Shri Rajeev Chandrasekhar, resolving these issues as the new Scheme is now open till December 2024 till budgets are available, allowing multiple entities to apply or re-apply and seek incentives, they are allowed to do so. Further Shri Chandrasekhar stated that “If it turns out that there is more money or capital required, we will be open to that, as per due process of going to Union Cabinet”.

    ELCINA believes this initiative will accelerate the growth of the semiconductor ecosystem in India. The association is actively working on Work Force Development and Supply Chain of Semiconductors and urges its members, stakeholders, and the industry at large to capitalize on this opportunity and submit their proposals for semiconductor manufacturing units.

    Also read:  CPI says people have taught Modi a harsh lesson
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