India prepares new semiconductor incentives as US partnership takes shape

On the same day that the US Department of State revealed its collaboration with India’s Semiconductor Mission (ISM) under the Union Electronics and IT Ministry to explore opportunities for expanding the global semiconductor ecosystem, reports have emerged that ISM is gearing up to introduce a new incentive package to attract foreign chipmakers, packagers, testers, and component suppliers.

A Livemint report, citing Akash Tripathi, the chief executive officer of ISM, noted that a specific incentive value has not yet been finalised. He mentioned that the package would also include incentives for components, which is a new addition.