Semiconductor fab applicant ISMC pings govt to speed up incentive nod

CHENNAI/DELHI: ISMC Analog, one of the applicants for the Centre’s $10-b semiconductor manufacturing scheme, has urged the Government to expedite the anticipated incentive approval necessary for the Tower Semiconductor-backed consortium to start building the factory by year-end, people aware of the developments told ET.

“The ISM [Indian Semiconductor Mission] was reminded this week to honour their words of issuing Letter of Intent defining grants & tax exemptions by August to do ground breaking by end of year,” an official aware of ISMC’s dialogue with the Mission told ET.

The letter from ISMC, dated August 8, was sent to ISM, IT Minister Ashwini Vaishnaw, MoS Rajeev Chandrasekhar, Karnataka CM Basavaraj Bommai, among others.