Israel Based Semiconductor Company Seeks PM Modi’s Intervention

- Advertisement -

More than 20 companies have shown interest in setting up semiconductor fabrication plants in India

Tower Semiconductor has written to Prime Minister Narendra Modi requesting his intervention for fast tracking on a government proposal around chip manufacturing. The government of India had floated an expression of interest (EOI) for chip manufacturing at the start of the this year.

First reported by the Economic Times, the company has expresses concerns over the delay and noted that it might be unable to stay active in the project in the near future.

- Advertisement -

Tower Semiconductor is Next Orbit Ventures’ technology partner. The latter is a consortium headquartered in Abu Dhabi. The media house claims to have seen the letter which is supposedly also marked to MeitY minister Ashwini Vashnaw and finance minister Nirmala Sitharaman.

It is to be noted here that the commerce and industry minister Piyush Goyal had a call with the company around June to offer support. More than 20 companies have shown interest in setting up semiconductor fabrication plants in India. A report by Hindu BusinessLine quoting Rajeev Khushu, president, IESA, noted that two-three of the projects quoted by these 20 companies are very serious projects.

This, as per Khushu, is the first time that the government of India is discussing about the kinds of incentives required to bring semiconductor companies in India, with semiconductor companies. Khushu reckons some serious players can soon come to India because of this approach.

The government, as per the report is looking towards three to four companies for seriously pursuing the scheme. However, the government does not want to fix the form or amount of incentives it will be rolling out.

“They wanted to mention a figure to create interest. This also means that they are not restricting the figures to $100,000, a million or a billion,” Khushu was quoted saying.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Q1 2024: Memory Demand, China Shipments Lift Wafer Makers

0
The Counterpoint report concluded that despite the overall revenue decline, few factors benefited wafer fab equipment manufacturers in the first quarter of the year,...

Indian Automobile Industry Value Surges 19% In FY 2023-24

0
India's vehicle production grew by 10%, with a 19% increase in value.  The UV + SUV segment saw the highest growth, with a 23% rise...

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Buzz

Karnataka Allocates 234 Acres For Electronic Manufacturing

0
Karnataka government allocates 234 acres for electronic manufacturing cluster and semiconductor units, aiming for Rs 1000 crore investment and creating 4000 to 5000 jobs. Karnataka...

GPS Renewables Partners With IndianOil Corporation

0
The 50:50 joint venture aims to advance sustainable energy and biofuel adoption in the country. On Wednesday, government enterprise IndianOil Corporation (IOC) revealed its collaboration...

Renesas Acquires Transphorm For GAN Technology

0
Renesas acquired Transphorm Inc. for its GaN technology, expanding into markets like EVs, data centres, AI, and renewable energy. Upon completion of its acquisition,...

Important Sectors

Karnataka Allocates 234 Acres For Electronic Manufacturing

0
Karnataka government allocates 234 acres for electronic manufacturing cluster and semiconductor units, aiming for Rs 1000 crore investment and creating 4000 to 5000 jobs. Karnataka...

GPS Renewables Partners With IndianOil Corporation

0
The 50:50 joint venture aims to advance sustainable energy and biofuel adoption in the country. On Wednesday, government enterprise IndianOil Corporation (IOC) revealed its collaboration...

Renesas Acquires Transphorm For GAN Technology

0
Renesas acquired Transphorm Inc. for its GaN technology, expanding into markets like EVs, data centres, AI, and renewable energy. Upon completion of its acquisition,...

India Aims For $100 Billion Semiconductor Market

0
India embarks on a chip manufacturing journey aiming for a $100 billion semiconductor market by 2030; the IESA advocates using 28 nm chips for...

Hyundai Flags Government Policies Before $325M IPO 

0
The Korean tech manufacturer raised concerns about localisation rules like PLI for automotive technology ahead of its million-dollar initial public offering.  Before its million-dollar IPO,...

Manufacturing

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...