India expands scope of semiconductor ambitions, Vedanta seeks lifeline
Technology

India expands scope of semiconductor ambitions, Vedanta seeks lifeline

The central government of India has opened the doors for new and existing applicants to submit proposals for semiconductor fabrication plants. Union Minister for Information Technology, Rajeev Chandrashekhar, tweeted that there are expectations of both reapplications from current applicants and new investors showing interest in the semiconductor sector. However, the joint venture between Vedanta Resources Ltd., led by Agarwal, and Taiwan's Hon Hai Precision Industry Co. is likely to be informed that it won't receive incentives for producing 28-nanometer chips. The venture had applied for substantial financial support worth billions of dollars but failed to meet the government's criteria.

While Vedanta and Hon Hai have the option to reapply, a rejection would result in delays for Agarwal's vision of establishing India's first major chipmaking operation. This setback comes at a challenging time for Vedanta, as the conglomerate is already grappling with significant debt burdens.

Chandrashekhar stated that the initial application window for more expensive 28nm fabs was open for only 45 days in January 2022, attracting three applications. These applications were evaluated by the India Semiconductor Mission (ISM) and its advisory group. The current strategy also aims to encourage investments in mature nodes beyond 40nm, allowing current and new players to apply afresh based on their technology capabilities.

In the near future, the government may request Vedanta to submit a new application for financial support to manufacture 40nm chips along with a revised capital expenditure estimate. This bid can be considered once the application process for incentives is reopened by the government, as part of its efforts to attract chipmakers to the country. Vedanta has been in talks with STMicroelectronics NV for licensing chip fabrication technology, although no official partnership announcement has been made yet.

The central government of India has opened the doors for new and existing applicants to submit proposals for semiconductor fabrication plants. Union Minister for Information Technology, Rajeev Chandrashekhar, tweeted that there are expectations of both reapplications from current applicants and new investors showing interest in the semiconductor sector. However, the joint venture between Vedanta Resources Ltd., led by Agarwal, and Taiwan's Hon Hai Precision Industry Co. is likely to be informed that it won't receive incentives for producing 28-nanometer chips. The venture had applied for substantial financial support worth billions of dollars but failed to meet the government's criteria. While Vedanta and Hon Hai have the option to reapply, a rejection would result in delays for Agarwal's vision of establishing India's first major chipmaking operation. This setback comes at a challenging time for Vedanta, as the conglomerate is already grappling with significant debt burdens. Chandrashekhar stated that the initial application window for more expensive 28nm fabs was open for only 45 days in January 2022, attracting three applications. These applications were evaluated by the India Semiconductor Mission (ISM) and its advisory group. The current strategy also aims to encourage investments in mature nodes beyond 40nm, allowing current and new players to apply afresh based on their technology capabilities. In the near future, the government may request Vedanta to submit a new application for financial support to manufacture 40nm chips along with a revised capital expenditure estimate. This bid can be considered once the application process for incentives is reopened by the government, as part of its efforts to attract chipmakers to the country. Vedanta has been in talks with STMicroelectronics NV for licensing chip fabrication technology, although no official partnership announcement has been made yet.

Next Story
Real Estate

Swamiraj Rebrands as House of Swamiraj, Announces Rs 210 Cr Project

In a strategic shift marking its evolution from a reputed builder to a lifestyle-focused brand, Swamiraj Constructions has rebranded as House of Swamiraj. With a two-decade legacy and over 1,700 homes delivered across the Mumbai Metropolitan Region (MMR), the company is embracing a new phase centred on community-driven, wellness-oriented living. The rebranding was unveiled via a digital campaign titled #BeyondDimensions, executed in three phases—teaser, engagement, and launch. The campaign spotlighted the brand’s renewed commitment to designing homes that go beyond function to foster ..

Next Story
Resources

Morpho Dimensions Set to Cross Rs 1 billion Revenue in FY 25–26

Morpho Dimensions, a venture of acclaimed architecture and design firm Morphogenesis, is transforming India’s office interiors landscape with a technology-first, design-led approach. With a secured orderbook of Rs 700 million and additional projects in the pipeline, the firm is confidently on track to cross Rs 1 billion in revenue in FY 2025–26. By combining Artificial Intelligence (AI), Building Information Modelling (BIM), and Virtual Reality (VR), Morpho Dimensions enables clients to visualise and step into immersive, ready-to-operate workspaces within 90 days—ushering in a new bench..

Next Story
Real Estate

TOTO’s NEOREST Surpasses 4 Million Global Shipments

TOTO has announced that its flagship smart toilet, NEOREST, has surpassed 4 million global shipments as of March 2025, marking a major milestone in the evolution of luxury sanitation and setting a new global benchmark in design-led hygiene innovation. Launched in 1993 with the aim to redefine conventional toilets, NEOREST has consistently merged cutting-edge technology with minimalist design. Over three decades, it has become a category-defining product, earning global acclaim with prestigious honours including the iF Design Award, Red Dot, and Green Good Design Awards. The integrate..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?