Intel Foundry Services President Randhir Takur Praises Indian government for coming up with PLI scheme for semiconductor design and manufacturing
Union Communications, Electronics & Information Technology Minister Ashwini Vaishnav welcomes Intel’s Decision
Bengaluru, NFAPost: Intel Foundry Services is said to have expressed interest under the semiconductor profit-linked incentive (PLI) scheme announced by the Union Cabinet on December 16. The move comes despite the fact that Intel already announced a $10 billion investment in Malaysia.
In a tweet today, Intel Senior Vice President (SVP) and President of Intel Foundry Services Randhir Takur in a tweet showered praise on Union Telecom and IT Minister Ashwini Vaishnav and Minister of State Rajeev Chandrashekhar for coming up with new incentives for semiconductor design and manufacturing incentives for the country to make it a hub for electronics and semiconductor.
“Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging and logistics,” said Intel Senior Vice President (SVP) and President of Intel Foundry Services said in a tweet on 27th morning.
Intel’s decision to praise the PLI scheme is viewed by the analysts to further expand and strengthen its supply chain capabilities to contain the heavy dependency on Chinese and Taiwanese production facilities. The company already announced investment work $20 billion in Arizona state in the United States and $10 billion in Malesia.
According to Arvian Research, the decision of Intel leadership led by Randhir Takur can be viewed as a step towards considering the growing stature of the electronics and semiconduction design and manufacturing (ESDM) industry in the country.
“It is a fact that the Intel leadership announced that are currently in the process of studying the PLI scheme unveiled by the Narendra Modi-led government and plans are afoot to identify design and manufacturing linked incentives. Intel is also evaluating setting up a fabrication unit in India,” said Arvian Research.
In a related development, Union Minister for Communication, Electronics and IT Ashwini Vaishnav welcomed the decision of Intel to recognise the PLI scheme and expressed a red-carpet welcome technology giant Intel.
The Union Cabinet approved a ₹76,000-crore policy boost for the semiconductor and display manufacturing ecosystem in the country in a bid to position India as a global hub for hi-tech production.
Announcing the decision of the Cabinet, Ashwini Vaishnaw observed that electronics play an important role in everyday life, and semiconductor chips form a crucial part of electronics.
The scheme is expected to usher in a new era in electronics manufacturing by providing a globally competitive incentive package to companies in semiconductors and display manufacturing as well as design. It will strengthen India’s technological prowess in these areas of strategic importance and economic self-reliance.
The programme will give an impetus to semiconductor and display manufacturing by facilitating capital support and technological collaborations.