Four multinational semiconductor businesses are in negotiations with the government to establish factories in India. By the middle of March, the Centre is also anticipated to issue a second call for applications for the construction of such a facility under the $10 billion incentive package.
A “big” Korean semiconductor company and GlobalFoundries, based in New York, are two of the nations that have expressed interest.
“There are four significant opportunities that are in the final stages of development in addition to the applications the government now possesses. Therefore, they will arrive as soon as we open the second window,” reports said, quoting a source.
The Centre invited proposals for setting up semiconductor facilities in India last year. In December 2021, it announced a $10 billion package to incentivise the manufacturing of chips in India. The India Semiconductor Mission (ISM) was made the nodal agency of the program.
