India bars asset sales or mortgages under Semicon 2.0 1.27L/cr
Business
India just introduced fresh guidelines for its Semicon 2.0 program: chip plants can't sell or mortgage their assets before the declaration of the commercial production of the entire project unless they get prior approval of the Nodal Agency.
It's all part of a big ₹1.27 lakh crore push to build up India's semiconductor industry.
Semicon 2.0 requires 51% ownership
The program supports everything from building factories to improving assembly and testing, with incentives for companies that buy local parts.
To get financial help, companies need to keep at least 51% ownership while receiving support, run their operations for at least three years after launch, and report any changes in ownership to the authorities.