New Delhi, Dec 22 (KNN) So far, Rs 13 crore has been released to India Semiconductor Mission (ISM) which has been setup as an Independent Business Division within Digital India Corporation.

ISM has all the administrative and financial powers and is tasked with the responsibility of catalysing the India Semiconductor ecosystem in manufacturing, packaging and design.

This was informed by MoS for Electronics and IT Rajeev Chandrasekhar in a written reply to a question in Lok Sabha on Wednesday.

Its objective is to formulate a comprehensive long-term strategy for developing sustainable semiconductors and display manufacturing facilities.

The minister asserted that the government is focused on its important objective of building the overall semiconductor ecosystem.

“The government is working to ensure that, it in-turn catalyses India’s rapidly expanding electronics manufacturing and innovation ecosystem,” said the minister.

Government has approved the Semicon India programme with a total outlay of Rs 76,000 crore for the development of semiconductor and display manufacturing ecosystem in the country.

The programme has further been modified in view of the aggressive incentives offered by countries already having established semiconductor ecosystem and limited number of companies owning the advanced node technologies.

It aims to provide financial support to companies investing in semiconductors, display manufacturing and design ecosystem. This will serve to pave the way for India’s growing presence in the global electronics value chains.  (KNN Bureau)