KOLKATA - India is rolling out the red carpet for semiconductor manufacturing companies in a bid to minimise its exposure to global supply chain risks associated with this critical commodity and also ensure its "digital sovereignty".

The Indian government began accepting proposals from international chip manufacturers from Jan 1 under a policy announced last month that seeks to develop a flourishing semiconductor and display ecosystem in the country.

The move is part of a wider ambitious policy to position India as a global hub for electronics system design and manufacturing with a total financial outlay of 2.3 trillion rupees (S$42 billion).

This includes a 760 billion rupees push for semiconductors and display manufacturing spanning different parts of the value chain, including design, testing, fabrication and packaging.

Key features include support of up to 50 per cent of the total project cost for applicants setting up semiconductor and display fabrication units as well as an incentive of up to half the cost of eligible expenditure for semiconductor design companies.

The government will also set up an "India Semiconductor Mission", helmed by global experts, to put in place long-term strategies for this sector.

India's latest moves have enthused the domestic semiconductor industry.

●Origin：The Straits Times
●Link：https://www.straitstimes.com/asia/south-asia/india-woos-semiconductor-manufacturers-in-a-bid-for-digital-sovereignty