Cabinet approves incentives to promote chip manufacturing

Cabinet approves incentives to promote chip manufacturing
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First Published: Thu, Feb 22 2007. 04 52 PM IST
Updated: Thu, Feb 22 2007. 04 52 PM IST
By Shailendra Bhatnagar
India’s cabinet approved a plan to give financial incentives to semiconductor manufacturers such as Intel Corp. to attract more investments.
India will offer incentives of between 20% and 25% of the capital expenditure for semiconductors and plasma display panel plants located in India during the first 10 years, Information Technology Minister Dayanidhi Maran told reporters in New Delhi today.
A minimum investment of Rs25 billion will be needed to qualify for the incentives, he said. India expects as much as $9 billion in investments from semiconductor makers, Maran said.
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First Published: Thu, Feb 22 2007. 04 52 PM IST
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