India expands scope of its semiconductor ambitions; Vedanta likely gets a lifeline

The central government will start accepting and considering new applications for semiconductor fabrication plants from new and existing applicants. There are expectations that some current applicants will reapply and new investors will apply, Rajeev Chandrashekhar, the union minister for information technology tweeted.

News agency Bloomberg on Wednesday reported citing sources that the Centre is likely to tell the venture between Agarwal’s Vedanta Resources Ltd. and Taiwan’s Hon Hai Precision Industry Co. it won’t get incentives to make 28-nanometer chips. The venture has applied for such assistance, potentially worth billions of dollars, but hasn’t met the criteria set by the government.