IT Minister 'welcomes' Intel to India after company executive lauds semiconductor incentives

IT Minister Ashwini Vaishnaw on Tuesday took to Twitter to "welcome" Intel to India following a post by Intel Foundry Services president Randhir Thakur lauding the semiconductor design and manufacturing incentives announced by the government recently.

Earlier this month, the government had approved a Rs 76,000-crore scheme to boost semiconductor and display manufacturing in the country, in a bid to position India as a global hub for hi-tech production, and attract large chipmakers.

The move is expected to further India's ambitions to be self-reliant in electronics manufacturing, bring massive investments and result in 35,000 specialised jobs apart from indirect employment for one lakh people.

Read | India, Taiwan mull setting up semiconductor hub

IT Minister Ashwini Vaishnaw on Tuesday tweeted "Intel - welcome to India."

Intel - welcome to India. https://t.co/1Wy90HfAjy

— Ashwini Vaishnaw (@AshwiniVaishnaw) December 28, 2021

This was in response to a tweet by Intel's Thakur which said, "Congrats to @GoI_MeitY @AshwiniVaishnaw @Rajeev_GoI for Semiconductor design & manufacturing incentives for India as hub for electronics & semiconductors".

Thakur further wrote: "Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging & logistics".

It is pertinent to mention here that under the Rs 76,000-crore scheme approved for the development of semiconductors and display manufacturing ecosystem by India, incentives have been lined up for companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging and semiconductor design.

With the semiconductor incentive scheme in place, the government expects investments of around Rs 1.7 lakh crore and 1.35 lakh jobs in the next four years.

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