New Delhi, July 17 -- India's new semiconductor incentive scheme will offer homegrown startups a cushion to absorb the cost of producing prototype chips-a process that has often taken over a year and cost as much as Rs.2,000 crore. To do this, the Centre will offer incentives as it waits for the country's first commercial chip fab to come into operation in the country. In an interview with Mint on Thursday, Amitesh Sinha, additional secretary in the ministry of electronics and information technology (Meity) and chief executive officer (CEO) of the India Semiconductor Mission (ISM), said the move may help India create its own chip patent over the next five fiscal years. Edited excerpts:

Yes. When small companies go to a commercial fab to ...