Cabinet's nod to PLI for semiconductor will strengthen Aatmanirbhar Bharat Programme: PM Modi

Prime Minister Narendra Modi has lauded the Union Cabinet's decision of approving an incentive scheme for the production of semiconductors in the country,

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New Delhi: Prime Minister Narendra Modi, on Wednesday (December 15), lauded the Union Cabinet's decision of approving an incentive scheme for the production of semiconductors in the country, 

PM Modi said that the Union Cabinet's decision will encourage research and innovation in the sector and also boost manufacturing, strengthening the 'Aatmanirbhar Bharat' programme.

In a Tweet, Modi said, "Today's Cabinet decision on semi-conductors will encourage research and innovation in the sector. It will also boost manufacturing and thus strengthen the dream of an Aatmanirbhar Bharat."

Today’s Cabinet decision on semi-conductors will encourage research and innovation in the sector. It will also boost manufacturing and thus strengthen the dream of an Aatmanirbhar Bharat. https://t.co/HcuY318EZ1

— Narendra Modi (@narendramodi) December 15, 2021

The Union Cabinet has given its nod to a Rs 76,000-crore policy to bolster a semiconductor and display manufacturing ecosystem in the country. The ecosystem will aim to position India as a global hub for hi-tech production.

Earlier in the IT and Telecom Minister Ashwini Vaishnaw while revealing the details of the recently announced scheme had said that electronics plays an important role in everyday life and semiconductor chips form a crucial part of it. Also Read: Pradhan Mantri Krishi Sinchayee Yojana: Cabinet approves implementation of PMKSY for 2021-26

Meanwhile, I&B Minister Anurag Thakur said that the scheme envisages investment of Rs 76,000 crore in semiconductor production over the next 5-6 years. Also Read: Aadhaar Card Update: Here’s how to change date of birth in few simple steps