Singapore-based IGSS has proposed to set up a `26,000-crore fabrication unit in Tamil Nadu and is awaiting approval for incentives from the Centre.
The consortium competes with Tower-backed ISMC Analog and the Vedanta- Foxconn joint venture in bagging central government incentives to set up multi-billion semiconductor fabs in the country.
“The government must build on previous work done and jumpstart the industry into the next stage, by deciding based on the information and track record that is in front of them,” Kumar said.
ET has reported previously that the ISMC consortium had written a letter to the Centre seeking faster decision-making on the incentives. The Union government announced a $10 billion incentive package for kickstarting semiconductor manufacturing in December last year, and rolled out the list of applicants under various nodes in February.
However, it has not cleared any of the applications so far.
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“On December 15, 2021, the Semicon India Program was released after much work was done between 2019-2021. However, there have been quite a few false starts in the past for various reasons,” Kumar said.
