“It will take six to eight months (to evaluate the proposals of semiconductor fabrication plants),” added Vaishnaw.
The minister also said the government has laid a roadmap for 20 years ahead and the $10 billion package is just the first tranche and “India has appetite and need” for more fabrication plants while speaking at SemiconIndia 2022 in Bengaluru on Friday. He had earlier said that India is also talking to other large players such as Intel, Samsung and TSMC to invest in India.
When questioned about the other components in the policy other than fabrication plants and chip making, the minister said that the response has been good and it has received 20 applications of which eight belong to compound semiconductors and five-six are in the design-led aspects.
In February, the government announced that it has received proposals from five companies to set up electronic chip and display manufacturing plants with investment of $20.5 billion (Rs 1.53 lakh crore). A Vedanta Foxconn joint venture, IGSS Ventures and ISMC propose to set up electronic chip manufacturing plants with $13.6 billion investment and have sought support of $5.6 billion from the Centre under the Rs 76,000 crore Semicon India Programme, a news release from the Ministry of Electronics and IT said. Vedanta and another company, Elest, have submitted applications for setting up display fab projects with an investment of $6.7 billion. The fiscal support sought from the government is nearly $2.7 billion.
“The process for evaluating any proposal is a process that hinges around the India Semiconductor Mission. The leadership is being hired and on boarded. As soon as it is constituted and the leadership is in place, they will start doing their job. We have a very open, transparent process. This process will drive the evaluation of the many proposals that we have received, and we will continue to see,” added Rajeev Chandrashekhar, Minister of State for Electronics and Information Technology at the event.
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