The gist of it: if you want to set up display manufacturing in India, you can put in for some Indian government grants, and yes, it is specific enough to warrant attention from display manufacturers.
The Indian government has decided to reopen applications under its Modified Semicon India Programme. This scheme is designed to foster the development of the semiconductor and display manufacturing ecosystem within India.
You have until December 2024 to apply for the “Modified Scheme for setting up of Compound Semiconductors/Silicon Photonics/Sensors Fab/Discrete Semiconductors Fab and Semiconductor ATMP/OSAT facilities in India.” The Design Linked Incentive Scheme application window is also open until December 2024. So far, 26 applications have been received under this scheme, and five of those have been approved.
This programme initially started in December 2021 with a budget of Rs 76,000 crore ($9.2 billion). It was modified in September 2022 to increase competitiveness, following industry feedback. Now, incentives under this policy have been revised to cover 50% of costs for all semiconductor technology nodes.
What this means for your company is that the Indian government is highly motivated to develop this industry and is offering significant incentives for companies like yours to set up manufacturing facilities in the country. Given the substantial potential benefits, it’s worth considering submitting an application.
The government has shown its commitment to this initiative, with IT & Electronics Minister Ashwani Vaishnaw having recently met with leaders from prominent semiconductor companies like Intel, GlobalFoundries, and Micron.
If you have already applied under the earlier scheme, the ministry has clarified that you can resubmit your applications under the Modified Scheme after making necessary changes to your proposals.
