News > This Group Of Investors Will Spend Rs 23,000 Crore To Launch India’s 1st Semiconductor Factory In India
This Group Of Investors Will Spend Rs 23,000 Crore To Launch India’s 1st Semiconductor Factory In IndiaPosted :Tuesday 16th of August 2022 07:19:21 PM
TISMC Digital Fab has signed an agreement with the Karnataka government for setting up India’s first semiconductor fabrication unit.
On 15th December 2021, the government of India had announced a new incentive scheme worth Rs.76,000 crore (approximately $10.2 billion) in a push to boost the semiconductor ecosystem in India.
ISMC Digital Fab is one of the three applicants for the Union Government’s Rs.76,000 crore ($10-billion) incentives for semiconductor manufacturing. The company has signed an agreement with the Karnataka government for setting up India’s first semiconductor fabrication unit.
IMSC is representing a group of investors
ISMC, representing a group of investors led by Abu Dhabi-based company – Next Orbit Ventures, for establishing a semiconductor fabrication factory in India announced an investment of Rs. 22,900 crores ($3 billion).
The Karnataka Government suggested the group to look at setting up the semiconductor fabrication unit at the Electronics and Systems Design cluster in Mysuru.
IMSC is also considering setting up the factory in Gujarat ISMC was also considering the option of setting up the proposed semiconductor fabrication factor at Dholera sir in Gujarat. The group is likely to have opted for Karnataka due to the water availability and also the additional incentives offered by the state.
The group has previously submitted an application for availing the Union Government’s incentive scheme for semiconductor fabrications.
Source by https://trak.in/