SynopsisIndustry stakeholders have informed the Ministry of Electronics and Information Technology (MeitY) of the need for higher incentives since global prices of memory, a key input, are expected to remain elevated for at least 18 months amid a supply shortage, Chandak said on the sideline of an industry event.Industry briefs MeitY on the need for higher incentives as costs riseThe second phase of India Semiconductor Mission (ISM) is expected to top its initial outlay of $10 billion, as rising prices of memory chips call for higher incentives, India Electronics & Semiconductor Association (IESA) president Ashok Chandak said on Wednesday.Industry stakeholders have informed the Ministry of Electronics and Information Technology (MeitY) of the need for higher incentives since global prices of memory, a key input, are expected to remain elevated for at least 18 months amid a supply shortage, Chandak said on the sideline of an industry event."Production capacities for memory will take time to be raised. Till then, there will be pressure on prices," he said.Currently being prepared, the incentive package under ISM 2.0 will prioritise advanced memory packaging focused on high bandwidth memory (HBM) - a specialised high-performance architecture providing massive, high-speed data processing capabilities that traditional memory cannot provide, officials had earlier told ET. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now