: MyGov calls upon startups and MSMEs to design semiconductor chips in India to tap supply chain #finance #StockMarketNEWS New Delhi, 20 Jan (KNN) Promoting pitch for Atmanirbhar Bharat, My Gov

MyGov calls upon startups and MSMEs to design semiconductor chips in India to tap supply chain #finance #StockMarketNEWS
New Delhi, 20 Jan (KNN) Promoting pitch for Atmanirbhar Bharat, My Gov India has invited start-ups and MSMEs to design semiconductor chips in India.

MSME Ministry re-tweeted the tweet by MyGovIndia, "Lets create a vibrant semiconductor chip design ecosystem in India! If you are an Indian company, a startup or MSME involved in semiconductor design, apply for Design Linked Incentive (DLI) Scheme at http://chips-dli.gov.in."

On 16th January, the Ministry of Electronics & IT invited applications from 100 domestic companies, start-ups and MSMEs under its Design Linked Incentive (DLI) Scheme.

This initiative is undertaken to create a vibrant ecosystem for Semiconductor Chip Design in the country, the Ministry said.

It is a part of the Rs 76,000 crore scheme, which the government announced in December 2021.

Under the Product Design Linked Incentive component, a reimbursement of up to 50 per cent of the eligible expenditure subject to a ceiling of Rs 15 crore per application will be provided as fiscal support to the approved applicants who are engaged in semiconductor design.

The approved applicants that claim incentives under the scheme will be encouraged to retain their domestic status (i.e., more than 50% of the capital in it is beneficially owned by resident Indian citizens and/ or Indian companies, which are ultimately owned and controlled by resident Indian citizens) for a period of three years after claiming incentives under the scheme.

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