An Indian incentive scheme drew proposals valued at $20.3 billion from five chip and display manufacturers to build production facilities in the country, with the companies seeking $8.3 billion from the government, the Ministry of Electronics and Information Technology revealed.
The first round of applications included three bids to construct semiconductor factories capable of production using 28nm to 65nm process technology, with a total planned investment of $13.6 billion and a monthly capacity of about 120,000 wafers.
Applications from a joint venture between Hon Hai Precision (Foxconn) and India-based Vedanta, IGSS Ventures Singapore and India Semiconductor Manufacturing Co are seeking more than $5.6 billion in government backing.
Display makers Vedanta and Elest filed applications to invest $6.7 billion to set up TFT LCD and Amoled display factories, seeking $2.7 billion from the funding pot.
India’s government approved incentives worth INR760 billion ($10.2 billion) in December 2021 to aid the local electronics manufacturing sector.
The ministry cited data forecasting India’s semiconductor market to grow from $15 billion in 2020 to $63 billion by 2026.Subscribe to our daily newsletter Back