| Posted: September 21, 2007 | |
India Releases Incentive Program Guidelines to Attract Nanotechnology Manufacturing |
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| (Nanowerk News) The government of India’s Ministry of Communications & Information Technology released the "Special Incentive Package Scheme" (SIPS) aimed at encouraging investments for setting up semiconductor fabrication facilities and other micro and nanotechnology manufacturing industries in India. | |
| The cabinet approved the policy back in March to offer incentive packages that provide subsidies in the form of tax breaks and interest-free loans amounting to 20 percent of capital expenditures for projects in special economic zones and 25 percent of projects elsewhere - with the caveat that interested semiconductor companies would need to invest at least $550 million to qualify for the subsidies. | |
| Announcing the policy—which will extend through 2010—IT minister Dayanidhi Maran said India can expect more than $10 billion of foreign direct investment. | |
| Source: Ministry of Communications & Information Technology |
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