Jagran Bureau, New Delhi. In order to encourage the development of semiconductor and display manufacturing ecosystem, the government will now provide 50 percent of the cost of all semiconductor projects as financial assistance. Earlier this assistance was in the range of 30-50 percent. On Wednesday, the cabinet committee headed by Prime Minister Narendra Modi gave its approval. As per the decision, financial assistance of 50 per cent of the project cost will be provided for all technology nodes.

National Logistics Policy also approved

Financial assistance of 50 percent of the cost will also be given for the project of setting up the display fab. Giving information about the decisions, Union Information and Broadcasting Minister Anurag Thakur has approved the National Logistics Policy in the cabinet meeting. Prime Minister Narendra Modi tweeted that the logistics policy will boost growth and increase India’s share in global trade.

Many new proposals will come in the field of semiconductor manufacturing

Minister of State for Electronics and IT Rajiv Chandrashekhar said that with this decision of the government, many new proposals will come in the field of semiconductor manufacturing. He said 5-7 proposals are already in the pipeline. Recently, Vedanta and Taiwanese company Foxconn have announced to set up a semiconductor manufacturing unit in Gujarat with an investment of Rs 1.54 lakh crore.

Target technology also includes discrete semiconductor fabs

As per the decision, the same arrangement will be applicable for setting up of Compound Semiconductor, Silicon Photonics, Sensor Fab and Semiconductor ATMP, OSAT facilities. The technology targeted under the scheme will also include Discrete Semiconductor Fabs.

PLI scheme of solar equipment also approved

The Cabinet Committee has also approved a Rs 19,500 crore Production Linked Incentive (PLI) scheme for indigenous manufacturing of solar energy equipment. This was announced by Finance Minister Nirmala Sitharaman in the Budget 2022-23. Union Power Minister RK Singh says that by becoming self-reliant in the manufacture of solar energy equipment, India will save foreign exchange of Rs 1.40 lakh crore every year by becoming self-sufficient.

promotion of solar energy

In 2020, after the Corona epidemic and worsening relations with China, it was considered to promote the manufacture of solar PV cells necessary for solar power in the country. For the first time in May 2021, a scheme of Rs 4500 crore was approved. Considering the enthusiasm from the industry and the needs of the country, the Finance Minister had announced to expand it and plan to make a plan of Rs 24 thousand crore.

this is the purpose

The government said that one of the main objectives of this scheme is to manufacture 65,000 MW solar PC modules in the country. The scheme will establish a complete framework for manufacturing of solar energy equipment.

This will provide direct employment opportunities to 1.95 lakh people, while 7.80 lakh people will get indirect employment. There is a possibility of direct investment of Rs.94 thousand crore in this. According to the Power Minister, the objective of the scheme is not only to make India self-reliant in the manufacture of solar PV cells, but also to make it the center of global supply chain.

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Edited By: Krishna Bihari Singh