The new incentive plan which is likely to be launched at the start of the next fiscal year will have a corpus of Rs 10,000 crore, ET has reported. It will be an updated version of the current Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).
Semiconductor Incentives: In addition to the ATMP (assembly, testing, marking, packaging) plants announced by Micron, Tata Electronics and Kaynes Corp others like the HCL Group and Tamil Nadu-based Murugappa Group are also finalising their plans to enter the sector.
The pari-passu or equal footing method for disbursal of incentives is one where the government releases the funds to successful applicants as and when they invest or achieve certain milestones.
Fintech startup Juspay is building a full-stack payment gateway that can offer card, wallet and UPI-based transactions. This and more in todays ETtech Morning Dispatch.
The Centre will launch a revised incentive scheme of up to ₹10,000 crore to promote the establishment of electronic and semiconductor component plants in the country, top officials told ET.