MeitY modified the Scheme for setting up Semiconductor Fabs in India

Oct 06, 2022 | by TeamLease RegTech Legal Research Team

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Industry Specific ComplianceThe Ministry of Electronics and Information Technology (MeitY) on October 04, 2022, modified the Scheme for setting up Semiconductor Fabs in India to attract large investments for setting up semiconductor wafer fabrication facilities in the country to strengthen the electronics manufacturing ecosystem and help establish a trusted value chain.

The scheme will be implemented through a nodal agency (India Semiconductor Mission). Such nodal agency will be responsible for carrying out technical appraisal and financial appraisal of the applications received under the scheme, recommending the selection of applicants, and carrying out other responsibilities as assigned by the Ministry of Electronics and Information Technology (MeitY) from time to time. 

Approval shall be granted to at least two (2) applicants under the scheme.

Support under the scheme shall be provided for a period of six years. The tenure of the actual fiscal support outflow may be extended based on the approval of the Minister of Electronics and Information Technology.

[Notification No.254}

 


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