New chip policy: 50% subsidy for manufacturing units in Tamil Nadu

In a bid to attract the chip-makers which have been chosen under Centre’s $10 billion chip subsidy plan, Tamil Nadu government on Sunday offered provide a capital subsidy of up to 50% of the capex assistance provided by the Centre for the semiconductor manufacturing units to be set up in the state.

The companies that have received approval from Centre for financial assistance under the semiconductor schemes will be eligible to avail the structured package of incentives for semiconductor manufacturing, Tamil Nadu government said in its Semiconductor and Advances Electronics Policy 2024, released at the Global Investors Meet 2024 on Sunday.