Five Indian firms propose to set up semiconductor & display plants

Vedanta Foxconn JV, IGSS Ventures and ISMC are the ones that have initiated the proposal and have received an investment of US$13.6 billion from the Centre

February 21, 2022

The government has received an investment of Rs 1.53 lakh crore, and proposals from five companies to help facilitate the installation process.

The companies, Vedanta and Elest want to kickstart this project with an investment of US$6.7 billion.

They also have the Central Government backing them with an investment of US$2.7 billion.

SPEL Semiconductor, HCL, Syrma Technology and Valenkani Electronics have signed up to help facilitate the semiconductor packaging.

To set up electronic chip and display manufacturing plants all over the country, the government has received an investment of Rs 1.53 lakh crore, and proposals from five companies to help facilitate the installation process. 

Vedanta Foxconn JV, IGSS Ventures and ISMC  have initiated the proposal and have also received an investment of US$13.6 billion from the Centre under the 76,000 crore Semicon India Programme, as per the Ministry of Electronics and IT. 

The companies, Vedanta and Elest want to kick-start this project with a foreseen investment of US$6.7 billion. They also have the Central Government backing them up monetarily with an investment of US$2.7 billion, as per the Scheme to help set up Display Fab in India. 

To further process the semiconductor packaging, companies such as SPEL Semiconductor, HCL, Syrma Technology and Valenkani Electronics have signed up along with Ruttonsha International Rectifier to help expedite the installation of compound semiconductors.