India Cabinet Approves $13.3 Billion Subsidy Program for Domestic Chip Industry
India’s cabinet has approved a $13.3 billion subsidy program for domestic semiconductor manufacturing, designated Semicon 2.0.
The initiative builds on a 2021 incentive scheme worth $10 billion that previously attracted investments from companies including Micron. The new funding covers the entire chip ecosystem, expanding the country’s existing framework for domestic chip production.
From the sources (3 posts)
@techmemeIndia pledges $13.3B to boost domestic chipmaking, building on a $10B incentive program from 2021, which attracted investments from companies like Micron (@sankalp_sp / Bloomberg) (Visit Techmeme dot com for the link and full context!)
@bsindiaIndia's #semiconductor push enters its next phase as the Cabinet approves the ₹1.28 trillion #Semicon2.0 programme focused on the entire #chip ecosystem. Read more: | @akshita_singh_
@wallstengineINDIA 🇮🇳 ANNOUNCES $13.3B NEW SEMICONDUCTOR MAKING PLAN