Title: India Eyes Expanded Incentive Package for Semiconductor Manufacturing Amid Foreign Interest Surge

Amid a surge of foreign interest in India’s semiconductor sector, the government is gearing up to unveil a substantial incentive package, building on the success of the Production-Linked Incentive (PLI) scheme. Reports indicate that this package will be prioritized and forms a pivotal agenda for the incoming administration. With numerous proposals in the pipeline, many of which are in advanced stages, decisions from the Centre, including incentives, are imminent. Currently, the government offers financial support covering up to 50 percent of the project cost for display and chip fabricators. However, in light of the considerably larger packages unveiled by countries like the US and China, India is poised to adopt a more aggressive strategy to attract investments.