In December 2021 Central Govt declared to incentivise semiconductor manufacturing in the country and five applicants are in the running for that. Although proposals from ISMC , IGSS Venture and Rajesh Exports may not get the central approvals from the government for the incentives. ISMC is a joint venture between Next Orbit Ventures and Israel's TowerSemiconductor. Tower Semiconductor was bought by Intel in February last year and the acquisition is yet to be completed. The proposal made by TOWER has the technology although the acusition process is ongoing and GOI cannot approve at this stage.The government found two proposals – from IGSS and Rajesh Exports lacking in solid technology partners.
Union minister Ashwini Vaishnaw said , “First Indians chip fab to be announced in a few weeks,”. He also added “We are almost at an inflection point when the first fab should be declared in a few weeks. And that is just the beginning,” Vaishnaw said at the Confederation of Indian Industry’s (CII) Partnership Summit. “India is slated to become a vibrant semiconductor industry in the coming 3-4 years,” the Union minister for electronics and information technology (IT) said at the event.
Currently India is competing with the countries like United States, South Korea, and European nations to attract global companies. All these countries are proven key player in the feld of semiconductor.
