India Bags Proposals To Set up Semiconductor Fabrication Plants: IT Minister By CIOTechOutlook Team

India Bags Proposals To Set up Semiconductor Fabrication Plants: IT Minister

CIOTechOutlook Team | Tuesday, 20 February 2024, 02:33 IST

Two proposals to establish semiconductor fabrication plants have been received by India; one from the Tata Group and the other from Israeli chip manufacturer Tower Semiconductor, as per Rajeev Chandrasekhar, Minister of State for Electronics and IT.

The collective value of the proposals equals nearly about $22 billion, more than twice the $10 billion incentive amount that New Delhi has earmarked for the chip ecosystem, as per Indian express.

“The two fab proposals that have been received by India, and represent a total investment of about $22 billion, are one from Tata and the other from Tower Semiconductor. We also have two very big packaging proposals, one from the Tatas and the other one from a consortium which is headed by a Japanese semiconductor company,” Chandrasekhar said during the Mumbai Tech Week organised by Tech Entrepreneurs Association of India (Team).

“After 75 years, for the first time you are going to see big multi billion dollar fab proposals coming to India. The government of India is currently in the process of evaluating and approving the proposals,” he said.

Chandrasekhar mentioned that the government is optimistic about the potential of online gaming and is planning to establish a framework that will allow for safe and permissible standards in the sector.

He also stated that Prime Minister Narendra Modi recognizes the significance of online gaming as a crucial segment of the country's digital economy, and is committed to providing it with the necessary encouragement and support.

“We are progressively going down the road of creating a framework that will allow safe, prosperous and permissible (online) gaming. I would tell all the entrepreneurs to keep faith. We hope after the third term of Prime Minister Narendra Modi is in place, we will create a much more stable and predictable regime for online gaming,” Chandrasekhar said.