Govt invites new applications for semiconductor manufacturing unit

The Centre has invited fresh applications seeking incentives to set up semiconductor and display manufacturing fabs. This comes after a joint venture (JV) between Vedanta Resources and Foxconn was reportedly denied the benefits under India’s ambitious semiconductor mission.

Apart from the Vendanta-Foxconn JV, Singapore-based IGSS Ventures and ISMC, the consortium of Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor, had applied for the benefits. Both IGSS and ISMC are set to reapply, say top executives of the respectibe consortiums.

However, Vedanta-Foxconn did not respond to their plan of action.