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The scheme envisages investment of Rs 76,000 crore in semiconductor production over the next 5-6 years, he said.

The Union Cabinet on Wednesday approved a production linked incentive (PLI) scheme for semiconductor and display board production in the country, I&B Minister Anurag Thakur said.

The scheme envisages investment of Rs 76,000 crore in semiconductor production over the next 5-6 years, he said.

Telecom and IT Minister Ashwini Vaishnaw said the decision will help design, fabrication, packing, and testing of the microchips and develop a complete ecosystem.

Companies including Israel’s Tower Semiconductor, Apple’s contract manufacturer Foxconn and a Singapore-based consortium have shown interest in setting up semiconductor fabrication units in India, a government source said, while adding that Vedanta Group was also keen to set up a display fabrication plant in India, reported Reuters.

(PTI)