India has received offers totaling $20.5 billion from five businesses
to develop semiconductor and display fabs in the country, according to
a government release.
Companies such as Vedanta in a joint venture with Foxconn, IGSS
Ventures pte in Singapore, and ISMC have proposed $13.6 billion in
investments to manufacture the chips, which are utilised in a wide
range of products from 5G gadgets to electric cars. Under the Central
Government’s incentive scheme, the three corporations have requested
$5.6 billion in funding.
“Despite aggressive timelines for submission of applications in this
greenfield segment of semiconductor and display manufacturing, the
scheme has elicited good response,” the Ministry of Electronics and
Information Technology said in the statement.
