Reports indicate that in a big push towards ‘Make in India” the Modi-Govt is set to offer $1 billion in cash to each semiconductor company that sets up manufacturing units in the country.
The incentive comes as there is a global chip shortage has hit everyone from makers of laptops smartphone to even kitchen appliances.
A senior govt official has told Reuters that the govt will assure the manufacturer that the government will be a buyer and there will also be mandates in the private market.