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videos | IST

Intel Foundry expresses interest under government’s semiconductor PLI scheme: Sources

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In a move to help out automakers to tackle the crisis, the Union Cabinet, on December 16, approved a Rs 76,000 crore semiconductor production linked incentive (PLI) scheme. As per Government sources, Intel Foundry Services is said to have expressed interest under the said scheme.

Intel Foundry Services is said to have expressed interest under the semiconductor profit linked incentive (PLI) scheme announced by the Union Cabinet on December 16. As per sources, Intel is currently in the process of studying the scheme and identifying design and manufacturing linked incentives. Intel is also evaluating setting up a fabrication unit in India.
It is also to be noted that last week, Anil Agarwal’s Vedanta Group said that it will be investing over USD 6 billion (approximately Rs 60,000 crore) to set up a chip fabrication unit in India.
Semiconductor shortage had put a dampener on vehicle sales for the past many months. In a move to help out automakers to tackle the crisis, the Union Cabinet, on December 16, approved a Rs 76,000 crore semiconductor PLI scheme. Under the design linked incentive scheme, 50 percent of the design expenditure is to be borne by the government. Additionally, the government will provide a 6 percent incentive on incremental sales; 6 percent will taper over 5 years to 4 percent.
Watch the accompanying video of CNBC-TV18's Ashmit Kumar for more details