According to Mr. Ajay Prakash Sawhney, Secretary, Ministry of Electronics and Information Technology (Meity), the government has attracted the interest of major global and Indian players, hoping to establish a non-fable display manufacturing plant in India, and is expected to propose an incentive plan to attract 3-4 such huge engagements in the next six months.

He stated that, "The major international entities in the electronics industry and the major entities in India have already proposed to express various interests and we anticipate pushing this process forward".

He added, "Based on the inputs received from the expressions of interest from various major players in the past three months, we plan to design an attractive incentive plan to invite proposals to establish manufacturing units within the country”.

He further added that the India’s display fab manufacturing space has the potential to have > 3-4 substantial investments.

Key company in focus include Samsung, Infineon, Panasonic, Vanguard, Texas Instruments, Intel, Taiwan Semiconductor Manufacturing Company (TSMC), ST Microelectronics, etc.

According to a ‘Creation of a Display Industry in India’ report by India Cellular & Electronics Association (ICEA) and Grantwood Research, the industry estimates funds worth US$ 20 billion from the government in support as financial incentives to encourage display manufacturers and companies in the display supply chain, which agree to make substantial investments under public-private partnerships.

Two types of display fabs in focus for India include Gen 6 fabs for smartphone screens and Gen 8.5 fabs for all other product categories.

Grantwood Technologies Director and CEO, Mr. G. Rajeswaran said, "A typical flat panel LCD or OLED factory with a monthly production capacity of 100,000 mother glass, would require an investment of US$ 1.5-2 billion, while ~ US$ 3-4 billion for Gen-6 fab.”

ICEA said that the localized display manufacturing industry would help create > US$ 11 billion in value added each year in India starting in the fifth year, and ~ US$ 10 billion in export opportunities and result in ~ 200,000 new employment opportunities.

According to the industry experts say, with the development of display technology in the next 7-8 years, companies investing in India would need strong R&D activities to support the evolving manufacturing process.

There are 39 mass-produced global display factories, of which 24 are located in China, which is estimated to add 13 more factories in the next five years.

In 2020, the overall demand for displays in India stood at ~ 253 million units, at US$ 5.4 billion in value. ICEA added, "Considering the manufacturing plan for mobile phones, TVs and IT hardware products, the market is expected to grow at a CAGR (compound annual growth rate) of 29.5% by 2025, to reach 922 million units, and US$ 18.9 billion in value."