According to Reuters, on September 21, Rajeev Chandrasekhar, Minister of Electronics and Information Technology of India, said that with the implementation of the incentive plan for semiconductor and display panel manufacturing, it is expected that the investment in related fields will reach at least 25 billion dollars.
On the same day, the Indian government announced an incentive plan for semiconductor and panel industries, including providing subsidies up to 50% of the total cost for new semiconductor projects, and lifting the investment restrictions on panel manufacturing industry to encourage local manufacturing of displays.
In order to become a key participant in the global supply chain, the Indian government not only proposed an investment plan of 30 billion dollars to establish a chip supply chain, but also adopted an incentive plan for semiconductor and display production with a total scale of 10 billion dollars at the end of 2021 to attract investment from manufacturers.
On September 13, Vedanta, a large Indian multinational group, announced that it would jointly invest 1.54 trillion rupees with Hon Hai to build a semiconductor project in Gujarat for the production of chips and displays.
It is worth mentioning that after the site selection of the joint venture wafer factory with Hon Hai Group was determined, Anil Agarwal, chairman of Vedanta, said a few days later that the company was considering establishing a second chip and display panel production base in India. Agarwal said: "Andhra Pradesh and Maharashtra have put forward some interesting suggestions. We will finalize the second factory after the first factory in Gujarat starts to operate."
Before that, ISMC, an international consortium, and IGSS Ventures, a Singapore consortium, also announced that they would set up semiconductor factories in Karnataka and Tamil Nadu in southern India.
Source of cover picture: Paixin