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ISM 2.0: Several chip companies plan to invest in India in 6 months, says Ashwini Vaishnaw

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ISM 2.0: Several chip companies plan to invest in India in 6 months, says Ashwini Vaishnaw

Business News Tech AI ISM 2.0: Several chip companies plan to invest in India in 6 months, says Ashwini Vaishnaw

ISM 2.0: Several chip companies plan to invest in India in 6 months, says Ashwini Vaishnaw

India’s second semiconductor mission has drawn nearly $12 billion in industry interest, with investments expected to begin within six months, Ashwini Vaishnaw told ET. The IT minister also called for greater responsibility from AI companies on safety.

The government has so far committed close to $23.5 billion under the two phases of the India Semiconductor Mission with 12 approved projects, including a chip fab by the Tata Group and five chip assembly units that have already begun production. It’s expecting the next set of companies to start investments in six months, Ashwini Vaishnaw , Union minister for electronics and IT, told Surabhi Agarwal. Vaishnaw, who’s completed five years as IT minister, said that AI companies have a “much bigger responsibility” to ensure their products are “safe” and India is holding consultations on the issue. The 5th Semicon India summit has just concluded. You have said there’s around $12 billion worth of interest. When can we expect them?

0 is built on six pillars: design; materials and machines; more fabs; more ATMP (assembly, testing, marking, and packaging) and OSAT (outsourced semiconductor assembly and test) units; Rundefined and talent. Many companies have already started discussing with us. Some CEOs who met me are planning to start their investments in the next six months. It’s that kind of confidence that industry has in India now.


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