Some chip companies may re-apply under revised scheme opening today

Some applicants including Vedanta Foxconn JV are expected to re-apply for government incentives under the modified semiconductor scheme opening from June 1, according to sources. Under the Modified Semicon India Programme, the government has increased the financial incentive of 50% of the project cost for companies, consortia, joint ventures for setting up semiconductor fabs in India of any node (wafer size). In the old scheme, the incentives varied on the basis of wafer node size.

Similarly, a fiscal incentive of 50% of the project cost is available for setting up of display fabs of specified technologies in India, a statement said on Wednesday.