20 more chip project awaits govt nod; Subsidy outlay needs to be raised from Rs 76,000 crore

The government will soon need to raise the outlay for the subsidy it grants for domestic semiconductor manufacturing units, from the current level of Rs 76,000 crore.

This is because after having approved five projects totalling worth Rs 1.52 lakh crore, 20 more such projects are before the India Semiconductor Mission, awaiting approval. Since the government provides 50% subsidy on the project cost, of the Rs 76,000 crore, roughly Rs 60,000 crore has already been tied up.