Government's gift to semiconductor and display manufacturing sector, logistics policy approved
Union Minister Anurag Thakur told in the press briefing today that a cabinet meeting was held under the leadership of the PM in which 3 decisions were taken. PLI scheme has been approved for Solar PV Module Trans-II for which a provision of Rs.19,500 crore has been made.
The cabinet meeting was held today under the chairmanship of PM Modi. After this meeting, Union Minister Anurag Thakur announced the decision of the cabinet and told that in the cabinet meeting, the Solar PV Module PLI scheme, changes in the semiconductor scheme and the National Logistics Policy have been approved. He informed me that the cabinet has approved the PLI scheme for the high-efficiency solar PV module Trans-2. Apart from this, the PLI scheme has come in 14 areas. He informed us that the amendments have been approved in the scheme for Semiconductors and Display Manufacturing Ecosystem.
The Minister of Information and Broadcasting and Sports and Youth Affairs informed that a provision of Rs 19,500 crore has been made for the PV module. Along with this, three auction windows have been made. The bidders will be able to avail of only 50% PLI. The government is expected to invest Rs 94000 crore from this.
The government has made some changes to boost the semiconductors and display manufacturing ecosystem. Earlier, there was a provision of incentives ranging from 30 percent to 50 percent in different categories. Under this ambitious program, companies have been given a 50 percent incentive for packaging and other semiconductor facilities including semiconductor fabs with all technology nodes.
To give a boost to the logistics sector in the country, the cabinet has approved the National Logistics Policy. It was inaugurated by PM Modi on his birthday. This policy will prove beneficial for the corporate sector. At present, the cost of logistics in the country is 16 percent of the GDP.