Centre invites new applications after reopening semiconductor incentive scheme
New Delhi: The Union government on Wednesday declared its plan to invite applications for the implementation of semiconductor and display fabrication units in India starting tomorrow.
This announcement follows the reopening of the Modified Semicon India Programme after a 15-month closure.
Interested parties will now be able to submit their applications from June 1, 2023.
The decision was made after a report by Bloomberg stating that the government had chosen not to extend incentives for the proposed 28-nanometer semiconductor manufacturing facility by Vedanta-Foxconn.
The joint venture allegedly failed to meet the requirements regarding the search for a technology partner. However, Vedanta Chief Anil Agarwal has refuted these claims, reported Moneycontrol.
Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar has also clarified that the government has not communicated any decision to halt the progress of Vedanta's fab proposal.
The India Semiconductor Mission (ISM), which serves as the central agency overseeing the implementation of the Modified Semicon India Programme, will be responsible for receiving and assessing applications related to the establishment of semiconductor and display manufacturing facilities in India.
According to a press release by the Ministry of IT and Electronics, the application window of “Modified Scheme for setting up of Compound Semiconductors / Silicon Photonics/Sensors Fab/Discrete Semiconductors Fab and Semiconductor ATMP/OSAT facilities in India” will remain open till December 2024.
The application window of the Design Linked Incentive Scheme will also be open till December 2024.
Till now, 26 applications have been received under DLI Scheme and five applications have been granted approval.
The Semicon India Programme was first introduced by the government in December 2021, with a budget of Rs 76,000 crore, aimed at promoting the development of the semiconductor and display manufacturing ecosystem in India. However, taking industry feedback into account, the scheme was revised in September 2022 to improve its competitiveness and effectiveness.
Under the Modified Scheme of the Semicon India Programme, applicants who had previously applied for Semiconductor Fabs and Display Fab schemes are now eligible to submit new applications. These applicants are required to make necessary modifications to their proposals for setting up Semiconductor Fabs and Display Fabs in accordance with the updated guidelines and requirements of the Modified Scheme.
During Vedanta's inaugural town hall meeting with shareholders on May 31, company promoter Anil Agarwal provided reassurance that the plans for the semiconductor project are progressing as scheduled, Moneycontrol reported.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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