Prime Time Zone, Webdesk: The Center has announced a special cash incentive for setting up semiconductor manufacturing centers domestically to build the smartphone assembly industry and strengthen the electronics supply system. Companies setting up chip fabrication units as part of ‘Make in India’ will receive around Rs. More than Rs 7,000 crore in cash incentives will be given, a government official said. The Center hopes that these measures will help India to become the second largest mobile manufacturer in the international market after China. He also said that the government would buy the chips to be manufactured by the companies. However, he added that full details regarding this cash incentive will be revealed soon. Recently there has been a huge shortage of chips in the auto and electronics industries in the global market. The Center seems to have taken this decision in the backdrop of international companies looking towards countries like Taiwan to address this.
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