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What TV doesn't, print can't; we deliver.
BENGALURU: India’s ongoing three-day mega conclave, Semicon 2022, in Bengaluru saw a major breakthrough as multinational chip manufacturer ISMC announced to set up its 65nm analog semiconductor fabrication plant in Karnataka’s Mysuru, making it country’s first such unit to manufacture and supply wafers for mobile and smart devices.
ISMC is a venture between Israel-based Tower Semiconductor, its principal technology partner, and UAE-based Next Orbit Ventures Fund (NOVF). The chip unit will be developed at a cost of Rs 22,000 crore.
The announcement by ISMC came a day after mining major Vedanta, which has tied up with Apple parts manufacturer Foxconn, also said several states have approached them to offer free land to set up their fabrication plants for both semiconductors and displays.
ISMC’s officials made this announcement after meeting Karnataka chief minister Basavaraj Bommai on Sunday afternoon. ISMC is one of the three applicants, apart from Vedanta and Tata, for the government’s $10 billion incentive package for semiconductor manufacturing.
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ISMS has sought 150 acre of land in Mysore’s Kochanahali Industrial area.
“The project is expected to generate more than 1500 direct and 10,000 indirect employment opportunities and ancillary semiconductor ecosystem industry development in the area with significant multiplier effects,” an ISMC official said.
Gunjan Krishna, Commissioner for Industrial Development, Karnataka governmen told The New Indian, “The present geopolitical circumstances necessitate that India develops the ecosystem for the semiconductor manufacturing in the country and Karnataka is well poised to take advantage of that because of its robust ecosystem in the electronic chip design industry. The manufacturing facilities will only add to the growth of the sector.”
Earlier, Bommai said “This MoU is a significant agreement amid the competition among various states to attract semiconductor fabs. Karnataka understands that it’s not just the fiscal incentives that matter but the availability of a conducive eco-system and overall ease in operations are also important.”
“We have one of the best infrastructures in the country and an abundant skilled talent pool. As a state we are not just trying to bring down the entry barriers for businesses but also make it easier to exit businesses, should it be so required. With robust policies, a committed team, best-in-class infrastructure, and an ever-increasing talent pool of workers, Karnataka is on its way to becoming a premier investment destination.”
“I invite all of you to be a part of this Growth Story. It’s nations pride under the leadership of and vision of PM Narendra Modi we are becoming Atmanirbhar in semiconductors Fab,” the chief minister had said.
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The MoU between Karnataka government and ISMC was signed by Dr E V Ramana Reddy, Additional chief secretary, Karnataka, Commerce and Industries and Ajay Jalan, Director, ISMC.
“This will be one of India’s first and largest semiconductor fabrication units under the central government’s Indian Semiconductor Mission upon project approval,” said Reddy.
“The uptick in Indian investment in semiconductors coincides with the global demand for semiconductors amid a shortage expected to run through 2025. We have suggested an Electronics and Systems Design cluster in Mysuru as the investment destination for ISMC”.
