Govt sets three sub-committees to vet proposals under India Semiconductor Mission

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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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Govt sets three sub-committees to vet proposals under India Semiconductor Mission

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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