NEW DELHI: India will roll out a mega multi-billion-dollar capital support and production-linked incentive plan to push manufacturing of semiconductors in the country, the move coming at a time when industries across sectors face massive production cuts due to global chip shortage, top sources have said.

Senior officers are engaged in active discussions with some of the top semiconductor makers such as Taiwan Semiconductor Manufacturing Co.<\/a> (TSMC<\/a>), Intel, AMD, Fujitsu, United Microelectronics Corp.<\/a>, as the government steps up efforts to drive in the much-wanted semiconductor investments into the country.

The ambitious plan is being coordinated and monitored closely by the Prime Minister’s office (PMO) and multi-ministries have been roped into the process as the government works overtime to finalise an attractive policy<\/a> to woo the semiconductor companies, which are also being chased by other countries such as the US, and those in Europe. “The government is willing to talk capital support. We are closer to it like never before,” a top source engaged in the process told TOI.