Semicon policy: India aims to leverage potential of high-growth chip market

MeitY eyes a more robust response to a reoriented incentive scheme based on stakeholder feedback

India’s ambition to become an emerging semiconductor giant is running into unanticipated problems. In March, Ministry of Electronics and Information Technology (MeitY) officials had raised expectations that a big announcement for a fab plant would be made in a few weeks. Last week, however, MeitY said it would start accepting fresh applications with an extended deadline that ends in December 2024. MeitY added that existing applicants could also re-apply — and two consortiums, Singapore-based IGSS and Abu Dhabi-led Next Orbit Ventures, said they would do so.

Indeed, 17 months since India announced the $10-billion semiconductor scheme even the publicised Vedanta-Foxconn