In this regard, Nandam Eshwar Rao, Chairman of Polymatech Company, said that they have applied for a 25% subsidy under the government’s PLI scheme for semiconductor production and have also received approval for the initial phase of production.
Semiconductor production will begin within the next few weeks, Polymatech said. Polymatech’s first phase plant has the capacity to produce 250 million semiconductor chips per year.
Polymatech also plans to prepare raw materials for semiconductor manufacturing in India. At present Polymadec is importing products including silver paste. But polymatech said it will soon manufacture the raw materials locally.