Govt Cancels Permit Granted To HSMC Tech For Setting Up Semiconductor Plant

- Advertisement -
- Advertisement -

The government has cancelled the letter of intent granted to a consortium led by HSMC Technologies India to set up the country’s first electronic chip manufacturing plant, Parliament was informed yesterday.

Image for representational purpose only

In a recent report PTI stated that with this, the government is left with no proposal to set up any manufacturing plant for electronic chips, which are known as the heart of modern devices and considered to be of strategic importance in cyberspace.

Minister of State for Electronics and Information Technology S S Ahluwalia, said in Lok Sabha that the government, on the recommendation of the empowered committee (EC) constituted for the purpose of setting up of Semiconductor Wafer Fabrication (FAB) manufacturing facilities in the country, cancelled the LoI issued to the consortium led by HSMC Technologies India Pvt Ltd on April 20, 2018.

- Advertisement -

He said the consortium could not submit the requisite documents as per the LoI, despite being provided extension of time on multiple occasions.

Ahluwalia further informed that the Government of Gujarat has informed that it is willing to support any investor intending to set up a chip fabrication facility. However, considering the investment required and technology-intensive nature of the industry, the State government does not intend to do it by itself.

He said the Centre has approved incentives for a project of Mundra Solar PV Ltd to set up a 1.2-GW solar photovoltaic modules manufacturing facility at Adani Ports Special Economic Zone in Gujarat with a proposed investment of 4,837 crore in three phases.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Indian PC Market Grows 4% In Q4 2023, Local Manufacturing Efforts Ramp Up

0
IT procurement by enterprises and SMBs, delayed in the first half of 2023, is starting to take place and is expected to accelerate...

“Efficiency In Solar Energy Is More About Investment Rationale Than Resource Limitation”

0
Indian utility-scale solar company SolarArise claims to offer investors long-term, cash-generating assets and anticipates advancements in energy storage technologies to enable 24-hour clean power...

Buzz

Tenstorrent- RISC V cores

MosChip Collaborates With Tenstorrent For Advanced RISC-V Cores

0
Tenstorrent has selected Moschip due to their tape out expertise in design services. India’s MosChip Technologies has announced partnership with computing company Tenstorrent and to...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Important Sectors

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Subsidy Cuts Push E2W Makers Towards Budget Models

0
Electric two-wheeler manufacturers face reduced government subsidies and growing competition from established petrol vehicle brands in the upcoming fiscal year. These challenges compel them...

Nissan To Invest In Renault’s Ampere For EV Roadmap

0
The alliance aims to introduce both five-seater and seven-seater models for each brand in India. Japan's Nissan Motor has committed to investing in Renault's electric...

TPEM And HPCL Team Up To Enhance EV Charging Infrastructure

0
The collaboration seeks to enhance the experience of electric vehicle owners in India and promote greater adoption of electric vehicles among the population. Tata Passenger...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...