Indian Economy News

Cabinet approves changes in PLI scheme for semiconductor manufacturing

  • IBEF
  • September 22, 2022

On Wednesday, the Union Cabinet authorised changes to the plan for the ecosystem of semiconductor and display manufacturers, with uniform fiscal assistance of 50% of project costs for all technology nodes.

Mr. Anurag Thakur, Minister of Information and Broadcasting, and Youth Affairs and Sports, announced the Cabinet's decision by stating that the changes will improve the semiconductor plan, increasing capacity inside the nation, attracting investments, and generating employment possibilities.

Compound semiconductors, silicon photonics, sensors, and sophisticated packaging are specialised technologies, thus the updated programme will give financial support for 50% of capital expenditures for the establishment of these industries.

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