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India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market

Inc42 · 1y ago

India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market

Tower Semiconductor from Israel and Tata Group from India have proposed large-scale chip manufacturing projects in the state of Gujarat, with a combined investment of $17 billion. Tower Semiconductor plans to scale up its plant to eventually produce 80,000 silicon wafers per month, while Tata Group intends to construct a chip fabrication unit and a chip-packaging plant. These proposals are part of the Indian government's efforts to boost chip manufacturing within the country, which is projected to reach a market value of $55 billion by 2026.

Related News

India Set To Host Two Multi-Billion Dollar Semiconductor Plants: MoS IT Announces

OutlookIndia

OutlookIndia · 1y ago

India Set To Host Two Multi-Billion Dollar Semiconductor Plants: MoS IT Announces

India is set to establish two semiconductor fabrication plants with multi-billion dollar investments, as well as several chip assembly and packaging units. Rajeev Chandrasekhar, Minister of Electronics and IT, confirmed that Tower Semiconductors from Israel has proposed an $8 billion project, while Tata Group has also submitted a project. The government has received four proposals for semiconductor manufacturing plants and 13 for chip assembly and testing units. India aims to become a global leader in electronics manufacturing and hopes to achieve $300 billion of electronics manufacturing by 2026-27.

India imported semiconductor chips worth Rs 1.71 lakh crore last fiscal: MoS IT

Economic Times

Economic Times · 9m ago

India imported semiconductor chips worth Rs 1.71 lakh crore last fiscal: MoS IT

The Indian government plans to reduce its semiconductor chip imports by promoting domestic chip manufacturing projects. In the fiscal year 2023-24, India imported chips and related components worth Rs 1.71 lakh crore. To address this, the government has approved five semiconductor chip manufacturing and assembly projects with a total investment of Rs 1.52 lakh crore. Additionally, they have approved proposals from 15 semiconductor design companies and provided access to necessary tools for chip design. The government is also investing in training engineering students for careers in the semiconductor industry and has allocated funds for capacity building and skill development.

Government set to clear next set of chip proposals under Semicon Mission

Economic Times

Economic Times · 5m ago

Government set to clear next set of chip proposals under Semicon Mission

The Indian government is finalizing the approval of new semiconductor project proposals under the India Semiconductor Mission. Projects from notable groups, including an HCL-Foxconn joint venture and the Hiranandani group's Tarq Semiconductors, are set to receive remaining funds from the Rs 76,000 crore initial outlay. Future phases are planned as current funds deplete. India aims to boost its semiconductor manufacturing capabilities, with ongoing projects attracting significant investments and potentially large-scale chip production.

Tower's plan for first Indian chip foundry likely to get nod today

Economic Times

Economic Times · 1y ago

Tower's plan for first Indian chip foundry likely to get nod today

The Indian Cabinet is expected to approve incentives for Israeli semiconductor company Tower's proposal to establish a chip fabrication unit in India. This marks the country's first pure-play chip foundry project, estimated at $9-10 billion. The government will subsidize 50% of the investment under the Indian Semiconductor Mission, with additional subsidies from states. Proposals for outsourced assembly and testing (OSAT) units by HCL Group-Foxconn Group and the Tata group are also likely to be approved. The investments aim to bolster India's semiconductor manufacturing and fabrication ecosystem.

Semiconductor units will strengthen India's transformative journey for tech self-reliance: PM Modi

Economic Times

Economic Times · 1y ago

Semiconductor units will strengthen India's transformative journey for tech self-reliance: PM Modi

Prime Minister Narendra Modi has announced that the upcoming semiconductor units in India will contribute to the country's journey towards technological self-reliance. The government has approved proposals to establish three semiconductor plants, including a mega fab by Tata Group, with a combined investment of Rs 1.26 lakh crore. The move aims to position India as a global leader in chip manufacturing. Incentives of up to Rs 76,000 crore are being offered to boost domestic semiconductor manufacturing, which is crucial for electronic devices in various sectors. Construction of the approved units is expected to commence within the next 100 days.

Invest Kerala Global Summit attracts Rs 1.53 lakh Cr worth investment proposals

YourStory

YourStory · 6m ago

Invest Kerala Global Summit attracts Rs 1.53 lakh Cr worth investment proposals

The Invest Kerala Global Summit in Kochi received investment proposals totaling Rs 1.53 lakh crore from 374 companies. The summit, attended by 3,000 delegates from 26 countries, highlighted Kerala’s industrial opportunities and included sessions with countries like Germany and UAE. The Kerala government plans to establish a new committee to facilitate these investments, alongside a fast-track mechanism and investor support services. The next summit will collaborate with UAE’s 2026 Investopia Summit.

'Semiconductor packaging unit in Assam’

Livemint

Livemint · 1y ago

'Semiconductor packaging unit in Assam’

Assam is set to have a ₹25,000 crore semiconductor packaging plant in collaboration with the Assam government and Tata Group. The government aims to attract semiconductor fabrication and packaging units through a ₹76,000 crore financial assistance scheme. US-based Micron Technology has already initiated setting up a packaging unit in Gujarat. The Indian government has received four proposals for semiconductor manufacturing plants and 13 proposals for chip assembly units. The development aligns with the government's focus on equipping young Indians with skills in areas like AI, cybersecurity, and semiconductors through initiatives like futureSKILLS.

With 5x the investment, India will be among top semicon producers by 2028: IT minister Ashwini Vaishnaw

Economic Times

Economic Times · 1y ago

With 5x the investment, India will be among top semicon producers by 2028: IT minister Ashwini Vaishnaw

India aims to become one of the top five semiconductor manufacturing nations by 2028, with investments expected to reach 7.5 lakh crore. The government plans to focus on executing India's first semiconductor fab project, led by the Tata group, along with two other chip assembly proposals. By developing a complete value chain, including design, fabrication, assembly, testing, and packaging, India aims to attract companies to establish their presence in the country. The semiconductor industry will provide strategic advantages and geopolitical value, positioning India amongst the top semiconductor leaders such as Taiwan, South Korea, the US, and China.

Gujarat Govt Allots 188 Acres To Tata And CG Power For Chip Plants

Inc42 · 1y ago

Gujarat Govt Allots 188 Acres To Tata And CG Power For Chip Plants

India has received investment proposals of over INR 2.5 lakh crore from global chip makers, according to the Minister of State for Electronics and IT. The Union Cabinet recently approved the setting up of the country's first semiconductor fab by Tata Group in partnership with Taiwan's Powerchip Semiconductor Manufacturing Corp. The Tata Group has been allotted 160 acres of land in Dholera for this purpose, while CG Power has been offered 28 acres in Sanand for its assembly, testing, marking, and packaging plant. The ground-breaking ceremony for both projects is scheduled for 13 March.

Centre to expand semiconductor scheme, looks to get raw material suppliers: ISM chief

Economic Times

Economic Times · 11m ago

Centre to expand semiconductor scheme, looks to get raw material suppliers: ISM chief

The Indian government plans to expand its semiconductor chip fabrication and packaging scheme under the second phase of the India Semiconductor Mission. Around 20 proposals have been made by semiconductor chip fabrication units, display fabrication companies, raw material suppliers, and chip packaging companies. The goal is to attract more investment in the sector, promote the growth of the semiconductor industry, and strengthen the ecosystem by bringing in other companies such as raw material suppliers and gas companies. Currently, a proposal by Tower Semiconductor to set up a chip fabrication unit is under consideration.

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