The country has finalized its first semiconductor policy, aiming for the local production of chips used in all electronic devices. The policy also offers significant incentives for investors.
This initiative could lead to the launch of projects like smart chips for national ID cards and passports. Investors will receive financial assistance for semiconductor design and research.
According to the policy document, semiconductor manufacturing companies will be eligible for grants and other incentives. They will also benefit from exemptions on duties for machinery and equipment needed for production. A National Semiconductor Fund of 10 billion rupees will be established.
A streamlined system will be put in place to facilitate new and existing companies. A national record will be created to protect intellectual property (IP), and startups will receive grants of up to 10 million rupees.
The document further outlines that the registration process for semiconductor companies will be simplified, with reduced fees. By 2030, 30,000 people will be trained in the semiconductor industry, with a target of promoting 55 startups by 2030 and 70 by 2045.
Additionally, the policy aims to assist in the establishment of 10 foreign chip design centers within the next six years. The goal is to achieve 5% local chip design by 2030 and 15% by 2035.