Govt May Roll Out Incentive Schemes For Investments To Set Up Fabless Display Units in 6 Months, Says MeitY Secretary

- Advertisement -

The secretary added that India has room for over 3-4 large investments in the display fab manufacturing area 

Amid rising interests from various global and Indian companies to set up a fabless display manufacturing plant in the country, the government is finally looking to devise an incentive scheme within the next six months to draw 3-4 large investments in the sector.

- Advertisement -

A report by The Economic Times quoted Ajay Prakash Sawhney, Secretary, Ministry of Electronics and IT (MeitY), saying during a virtual industry summit, “Both international and major Indian entities have come forward to expressing interest of various kind…and we are hopeful that we would be able to take this process forward.”

“Based on what we get from the expressions of interest that we have received and the extensive discussions that we have had with all the major players in this space over the past three months…we will attempt to come out with a scheme or incentive structure based on which we will then invite proposals to set up such manufacturing within India..within the next six months,” Sawhney added.

Indian companies have repeatedly requested the government to aid the development of fabless companies in the country, adding that such a step is crucial for etching India in the global market. 

As per a report by ICEA titled ‘Creation of a Display Industry in India’, India should focus on two types of display fabs, namely, Gen 6 fabs for smartphone displays, and Gen 8.5 fabs for all other product categories.

“A typical LCD or OLED display fab for flat panel display with a capacity of 100,000 mother glass per month would require an investment of somewhere between $1.5-2 billion while a Gen-6 fab would need around $3-4 billion,” said G. Rajeswaran, Director & CEO, Grantwood Technologies.

Localising display manufacturing would create value-addition in India of greater than $11 billion annually from the fifth year, create export opportunities of up to $10 billion and create employment to the tune of 200,000 new jobs, ICEA said.

Experts said that because display technologies evolve within 7-8 years, companies investing in India will need strong R&D activity to support the evolving manufacturing processes.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

5G Chipset Market to Hit $92.09B by 2030

0
Reports indicate that the global next-gen wireless processor market is on track to surpass the $100 billion mark in the coming decade. The 5G chipset...
Gursaurabh Singh, Founder of Dhruv Vidyut

“Electrifying Rural Mobility- Converting Traditional Bicycles Into E-Bikes”

0
In a conversation with Nitisha Dubey from EFY, Gursaurabh Singh, the Founder of Dhruv Vidyut, discusses their conversion kit, which can transform any conventional...
Rahul Bollini, the Founder of Bollini Energy

“Formal Contracts For Long-Term Commitments Are Not Always Necessary”

0
Bollini Energy collaborates with various companies interested in understanding the complete value chain of Lithium-ion cells. They offer technical services that span from mining...

Buzz

FAME 3 Likely To Launch On Budget Day With INR 10k Cr Budget

0
People familiar with the discussions informed that the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is likely to include support for electric...

Dixon Technologies Plans Multi-Million Dollar Investment In India

0
The domestic electronics manufacturer has planned 1500-1800 crores INR investment, seeks to venture into new sectors.  Dixon Technologies, a producer of e-components, recently disclosed its...

Clean Mobility Establishes Pune Facility For Zbee

0
Clean Mobility Solution India Pvt. Ltd. establishes a manufacturing facility in Pune to localise and indigenously produce the 'Made in India' Zbee, a three-wheeled...

Important Sectors

Setting UP Plant For Motors That Deliver 97% Efficiency

0
What can four students competing in Formula Student race teams achieve? Why would these students, originally focused on developing an electric two-wheeler brand, pivot...

FAME 3 Likely To Launch On Budget Day With INR 10k Cr Budget

0
People familiar with the discussions informed that the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is likely to include support for electric...

Dixon Technologies Plans Multi-Million Dollar Investment In India

0
The domestic electronics manufacturer has planned 1500-1800 crores INR investment, seeks to venture into new sectors.  Dixon Technologies, a producer of e-components, recently disclosed its...

Clean Mobility Establishes Pune Facility For Zbee

0
Clean Mobility Solution India Pvt. Ltd. establishes a manufacturing facility in Pune to localise and indigenously produce the 'Made in India' Zbee, a three-wheeled...

VinFast Invests $2 Billion In India Expansion

0
Vietnamese electric carmaker VinFast expands across Asia, opening new factories in India and Indonesia, despite challenges in the competitive EV market and slowing global...

Manufacturing

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...

Uno Minda Shines With Increased Content Per Car And EV Focus

0
Uno Minda, a key player in the auto parts industry, has demonstrated significant revenue growth, surpassing industry averages by more than double over the...