According to Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology and Skill Development and Entrepreneurship, the government is likely to start approving proposals to set up electronic chip and display manufacturing plants in the country in next 30-60 days.
Speaking at IESA Vision Summit, the minister informed that there has been a substantial progress in the development of the semiconductor ecosystem in the country in the last 8-9 months. The government has received proposals from five companies for setting up electronic chip and display manufacturing plants with investment of Rs 1.53 trillion. Meanwhile, the minister also noted that Vedanta Foxconn JV, 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 government under the Rs 760 billion “Semicon India Programme”.
