Silicon Fabs: Companies Propose Big Investment, No Big Names Yet

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Applicants were initially given 45 days to submit applications while setting February 15 as the deadline for proposals under the silicon semiconductor fab manufacturing incentive scheme

Five companies have proposed to invest more than Rs 1.53 Lakh Cr to set up display and semiconductor fabs in India. An official statement by the government of India notes that Vedanta Foxconn Joint Venture, ISMC and IGSS Ventures have proposes $13.6 billion investment. These companies are looking for support of $5.6 billion from the government of India.

It is worth noting here that the GOI had recently announced Semicon India Program with an outlay of Rs 76,000 Cr. The notification by the Ministry of Electronics and IT notes that Elest and Vedanta have proposed to set up a display manufacturing fab. The total investment promised is $6.7 billion whereas they are seeking support of $2.7 billion from the centre.

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Syrma Technology, SPEL, Valenkani and HCL have also shown interest in semiconductor packaaging. RuttohSha International Rectifier has also registered for compound semiconductors. Curie Microelectronics, Terminus Circuits, and Trispace Technologies have further registered for the design linked semiconductor scheme.

The window for submitting the applications for the Rs 76,000 crore semiconductor design and manufacturing scheme, as per recent reports, will be extended by the Centre inorder to enable a slew of top global semiconductor majors to also submit their proposals.

Applicants were initially given 45 days to submit applications while setting February 15 as the deadline for proposals under the silicon semiconductor fab manufacturing incentive scheme, which forms part of the overall semiconductor policy.

Minister of state for electronics and IT Rajeev Chandrasekhar told news publication ET, “There is no deadline as such. Conversations with many global leaders are ongoing and so extending the date is certain.”

“The government understands that this is a very time-intensive decision and made more so due to travel and physical meeting restrictions (due to the pandemic),” he added.

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Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!

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