Union Cabinet approves changes in PLI scheme for semiconductor manufacturing

The Union Cabinet on Wednesday approved changes in production-linked incentive (PLI) scheme for manufacturing of semiconductor, reported ET NOW.

The government had recently announced an outlay of Rs 76,000 crore (around $10 billion), under its PLI scheme, separately for the development of a semiconductor and display manufacturing electronics ecosystem.

India's semiconductor component market is likely to reach $300 billion in cumulative revenues by 2026, as 'Make in India' and PLI schemes will boost local sourcing of semi-components in the coming years, according to the report by the India Electronics & Semiconductor Association (IESA) and Counterpoint Research.


Commerce and Industry minister Piyush Goyal had claimed that the government is working to extend incentives under the PLI scheme to more sectors.

"We came up with PLI for 14 sectors apart from semiconductors... We are willing to go the extra mile inother sectors. We are working on a few PLI schemes already," Goyal said at a Ficci conference. The government has announced PLI schemes for 14 sectors, including white goods, textiles and auto components.