ISMC Planning To Set Up India’s First Semiconductor Fabrication Unit In Karnataka
The international semiconductor consortium ISMC is planning to invest $3 billion or roughly Rs 22,940 crore in the southern state of Karnataka to set up a chip manufacturing plant.
New Delhi: The government's push to make India a semiconductor hub is starting to fetch results as the international semiconductor consortium ISMC is planning to invest $3 billion or roughly Rs 22,940 crore in the southern state of Karnataka to set up a chip manufacturing plant, the media has reported. ISMC is an Abu Dhabi-Israel-based group that is eyeing setting up the 65nm analog semiconductor fabrication plant in Karnataka.
It should be noted that ISMC and two other companies, namely Singapore-based IGSS and Vedanta have also applied for Prime Minister Narendra Modi's $10 billion incentive plan to encourage companies to set up semiconductor and display operations in India, according to a report by news agency Reuters.
The country's first semiconductor fabrication unit is likely to generate more than 1,500 direct jobs and 10,000 indirect jobs, according to a tweet by the state's investment promotion division. Vedanta is reportedly holding "advanced talks" with the western states of Gujarat and Maharashtra and the southern state of Telangana and is likely to shortlist a site by the middle of next month.
Earlier in April, the Semiconductor Industry Association (SIA), which is the top trade association representing the US semiconductor industry, joined hands with the India Electronics and Semiconductor Association (IESA). Headquartered in Washington, D.C., SIA represents 99 per cent of the US semiconductor industry by revenue and nearly two-thirds of non-US chip firms.
The collaboration will help foster collaboration and identify potential opportunities between the two countries in the semiconductor sector, said a report. "We are delighted to sign this MoU with IESA and welcome India's goal to become both a more powerful digital economy and a hub for electronics and semiconductor innovation within the broader global value chain," John Neuffer, President and CEO of SIA had said.
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