Semiconductor PLI worth $10 bn to help India do in a decade what China did in 25-30 years: Rajeev Chandrasekhar

India is on track to becoming a key player in the global semiconductor supply chain in the next decade with $10 billion of incentives and assistance provided to encourage local chip manufacturing, Union minister Rajeev Chandrasekhar said on Thursday.

The production-linked incentive (PLI) scheme last year attracted firms like Vedanta and Taiwan’s Foxconn, who promised multi-billion dollar investment in setting up units to manufacture chips, which are used in products ranging from mobile phones to cars.