Lot Of Progress In Semiconductor Ecosystem In Last 8-9 Months: MoS Chandrasekhar

Minister of State for Electronics and Information Technology Rajeev Chandrasekhar on Wednesday said he has observed a lot of progress in the development of the semiconductor ecosystem in India in the last eight to nine months.

At the IESA Vision Summit 2022, the Minister said that the Government of India (GoI) has received proposals of establishing chip and display manufacturing plants from five organisations. These organisations are looking to invest Rs 1.53 lakh crore towards these projects.

He also said GoI will be beginning the process of approving the proposals in the next 30-60 days. 

Speaking virtually to the attendees, Chandrasekhar said that the government was looking at the semiconductor manufacturing sector as a “long game”. He informed that the interest in the industry is coming in terms of wafer fabrication plants to silicon compounds to even packaging and testing.

So far, Vedanta-Foxconn, IGSS Ventures and ISMC have shown interest in establishing semiconductor manufacturing facilities in the country. IGSS Venture is currently looking at Indian companies for a partnership to take its vision forward.