Govt to approve upto 2 chip manufacturing units this year: Chandrasekhar
The government expects to approve up to two applications this year to start building electronic chip manufacturing plants in the country, minister of state for electronics and IT Rajeev Chandrasekhar said on Friday.
While speaking on the sidelines of the SemiconIndia Future Design Conference, the minister told PTI that the current situation of slowdown in the electronic chip business will not have any impact on India's semiconductor programme as the impact is cyclical in nature but the programme has been conceived with long-term vision.
"The year 2023 will be an important milestone. We will cross Rs 1 lakh crore in mobile phone exports this year. We will be certainly announcing one to two fabs in India to be commencing construction," Chandrasekhar said.
The government has received proposals from five companies for setting up electronic chip and display manufacturing plants with investments of Rs 1.53 lakh crore a year ago.
Vedanta Foxconn JV, IGSS Ventures and ISMC propose to set u