Centre has formed three sub-committees to evaluate the multi-billion dollar proposals received under its ambitious India Semiconductor Mission (ISM) and hopes to approve the first applications “soon.”
Five consortiums, including Vedanta-Foxconn, Next Orbit Ventures-Tower Semiconductor (now owned by Intel), and Rajesh Exports, are awaiting official approval to establish semiconductor fabrication units under the ISM’s $10 billion package. Members of the Ministry of Electronics and Information Technology (MeitY) and the Industrial Finance Corporation of India (IFCI), according to sources familiar with the development, are part of one of the sub-committees that will thrash out the proposals.
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