Central government to finalise state where semiconductor fabrication plant is to be built by February 2023 

The Minister of IT, Government of Karnataka, CN Ashwath Narayan has stated that the central government is expected to announce the company that would build and the state that would house a semiconductor fabrication plant by February 2023.

Speaking at a curtain raiser event at the Bengaluru Tech Summit (BTS), he also referred to a memorandum of understanding (MoU) with the ISMC Consortium for a $3 billion fabrication plant in Mysuru. 

ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor.