MeitY, finance ministry to tackle customs delays slowing semiconductor plants
India's technology ministry, MeitY, is teaming up with the finance ministry to tackle customs delays that slow down building new semiconductor plants.
Since semiconductor facilities depend heavily on imported specialized equipment, materials and components, MeitY is asking industry representatives to point out exactly where things get stuck and suggest fixes, hoping this will help projects move from approval to actual manufacturing much faster.
Department of Revenue seeks industry feedback
Bringing in semiconductors is not simple: it involves several government departments, which means more paperwork and higher costs.
As Sushil Pal, Joint Secretary, MeitY, notes, even when Customs itself clears most consignments through a risk-based system, a consignment being selected for examination can impose a high cost on semiconductor companies.
The Department of Revenue said it would work with other ministries to simplify these rules. They are counting on feedback from the industry itself to cut through the red tape and make India's chip supply chain stronger.