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New Delhi: After meeting Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> ahead of the <keyword id="21272963" type="General" weightage="100" keywordseo="semicon-india-2024" source="Orion">Semicon India 2024</keyword> Summit, <keyword id="20137945" type="General" weightage="20" keywordseo="sanjay-mehrotra" source="keywords">Sanjay Mehrotra</keyword>, CEO of Micron, appreciated PM Modi's vision of developing semiconductors in India and said policies set up by him to incentivise semiconductor manufacturing in India are also very exciting. "PM Modi's vision to develop semiconductors in India and make it self-reliant is very exciting. The policies set up by him to incentivise semiconductor manufacturing are equally exciting. This is the perfect time for India to develop semiconductors because opportunities will grow with AI. The best is yet to come," Mehrotra said ahead of SEMICON India 2024 Summit. PM Modi will inaugurate SEMICON India 2024 at India Expo Mart, Greater Noida, Uttar Pradesh, today. Earlier on Tuesday, PM Modi chaired Semiconductor Executives' Roundtable at his residence. During the meeting, the Prime Minister said that their ideas will not only shape their business but also India's future. Mentioning that the coming time will be technology-driven, Prime Minister said semiconductor is the basis of the Digital Age and the day is not far "when the semiconductor industry will be the bedrock for even our basic necessities". The Prime Minister emphasised that democracy and technology together can ensure the welfare of humanity and India is moving ahead on this path recognizing its global responsibility in the semiconductor sector. According to an official release, the Prime Minister talked about the pillars of development which include developing social, digital and physical infrastructure, giving boost to inclusive development, reducing compliance burden and attracting investment in manufacturing and innovations. The meeting was attended by CEOs, Heads and representatives of various organisations including SEMI, Micron, NXP, PSMC, IMEC, Renesas, TEPL, <keyword id="23116584" type="General" weightage="20" keywordseo="tokyo-electron-ltd" source="keywords">Tokyo Electron Ltd</keyword>, Tower, <keyword id="19920144" type="General" weightage="20" keywordseo="synopsys" source="keywords">Synopsys</keyword>, Cadence, Rapidus, Jacobs, JSR, Infineon, Advantest, Teradyne, Applied Materials, Lam Research, Merck, CG Power and Kaynes Technology. Also present in the meeting were Professors from Stanford University, University of California San Diego and IIT Bhubaneswar. SEMICON India 2024 is being organised from 11 to 13 September with the theme "Shaping the Semiconductor Future." The three-day conference will showcase India's semiconductor strategy and policy, which envisions making India a global hub for semiconductors. It will witness the participation of top leadership of global semiconductor giants and will bring together global leaders, companies, and experts of the semiconductor industry. The conference will witness participation of more than 250 exhibitors and 150 speakers.

Semicon India 2024: This is perfect time for India to develop semiconductors, says MICRON CEO Sanjay Mehrotra

<keyword id="19986399" type="General" weightage="20" keywordseo="tata-electronics" source="keywords">Tata Electronics</keyword> has signed a memorandum of understanding with <keyword id="20120108" type="General" weightage="20" keywordseo="tokyo-electron" source="keywords">Tokyo Electron</keyword> to buy equipment and services for its under-construction chip units in Gujarat and Assam. Under the agreement, Tata Electronics and <keyword id="20423333" type="General" weightage="20" keywordseo="tel" source="keywords">TEL</keyword> will also focus on training Tata Electronics' workforce on TEL equipment and supporting ongoing improvement and research and development initiatives. "Tata Electronics...signed a memorandum of understanding with <keyword id="23110637" type="General" weightage="20" keywordseo="tokyo-electron-limited" source="keywords">Tokyo Electron Limited</keyword> (TEL), a leading global supplier of semiconductor equipment and services. The two companies will collaborate to accelerate semiconductor equipment infrastructure for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s first Fab being built by Tata Electronics in Dholera, Gujarat, and for its assembly and test facility in Jagiroad, Assam," Tata Electronics said on Monday. Tata Electronics is building India's first Fab in Dholera, Gujarat, with a total investment of Rs 91,000 crore and assembly and testing of semiconductor chips with investment of Rs 27,000 crores in Jagiroad, Assam. Together, these facilities will produce semiconductor chips for applications across automotive, mobile devices, artificial intelligence (AI), and other key segments to serve customers globally, the statement said. "TEL has a history of working closely with its customers, and its expertise in the semiconductor equipment space will help build a dynamic ecosystem to support the timely execution of bringing up our Fab and advanced packaging factories," Tata Electronics managing director and CEO, Randhir Thakur said. TEL will explore opportunities to leverage India's talent to establish an engineering service in India to support its global product development, the statement said. "This strategic collaboration spans both front-end fabrication and back-end packaging technologies, highlighting our commitment to delivering exceptional support and value to Tata Electronics. By leveraging our collective strengths, we aim to accelerate development and drive innovation across multiple technology nodes," TEL, President and CEO, Toshiki Kawai said. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ather-energy-looks-to-raise-3100-crore-files-ipo-papers-with-sebi/articleshow/113214971.cms">Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-iphone-16-pro-max-india-price-specifications/articleshow/113204340.cms">iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms">iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900</a>

Tata Electronics signs pact with Tokyo Electron to buy semicon equipment

<ul><li>The project is likely to get huge subsidies and incentives, like zero stamp duty on land purchase and subsidised water and electricity. </li><li>Gujarat became the first state in the country to have such a dedicated policy for the semiconductor and display fabrication sector. </li><li>The state government has also announced to reimburse 100 per cent of stamp duty which investors would pay for the first time for taking land on lease.</li></ul> <keyword id="28423" type="DOMAIN" weightage="20" keywordseo="vedanta" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="vedanta" meta.entityname="Vedanta Ltd." meta.entityid="13111" meta.seoname="vedanta-ltd">Vedanta</keyword> and Foxconn have hired experts who are evaluating possible locations for their upcoming <keyword id="1034078" type="General" weightage="100" keywordseo="semiconductor-plant" source="Orion">semiconductor plant</keyword> in Gujarat and a site may be finalised in the next couple of weeks, Gujarat Science and Technology Department Secretary Vijay Nehra said. So far, the joint venture company has not finalised the location as they are evaluating various sites in Gujarat based on technical aspects, commercial viability and connectivity to set up the semiconductor and a display fabrication unit in the state, Nehra told PTI. In the biggest ever corporate investment in the history of independent India, a joint venture of the Vedanta and Foxconn had on September 14 signed a Memorandum of Understanding (MoU) with the Gujarat government to invest ₹ 1,54,000 crore to set up the plant in the state. Nehra had signed the MoU on behalf of the state government. "Vedanta and Foxconn have hired sector experts who are evaluating possible sites for the upcoming plant in Gujarat. Earlier they were evaluating multiple sites across different countries. In December 2021, when the Centre had announced the 'India Semiconductor Mission', they started looking for sites across different states in India (and then selected Gujarat)," Nehra said. The promoters are now evaluating sites in Gujarat on different technical aspects, commercial viability, connectivity and utility point of view, Nehra said, adding that the site may be finalised in the next couple of weeks. "There are many minute things which need to be kept in mind while selecting the site. For example, the production process can get affected due to the vibrations of passing trains. There must not be any vibrations near the plant. Power outage of even one second in a year can result in a loss of crores of rupees," he said. The project is likely to get huge subsidies and incentives, like zero stamp duty on land purchase and subsidised water and electricity, under the '<keyword id="15015910" type="General" weightage="100" keywordseo="gujarat-semiconductor-policy-2022-27" source="Orion">Gujarat Semiconductor Policy 2022-27</keyword>' announced by the state government in July this year. Gujarat became the first state in the country to have such a dedicated policy for the semiconductor and display fabrication sector, a government official earlier said. While announcing the policy, the Gujarat government had announced that it will set up '<keyword id="14570013" type="General" weightage="100" keywordseo="dholera-semicon-city" source="Orion">Dholera Semicon City</keyword>' in the Dholera Special Investment Region near Ahmedabad to attract investors. Under this policy, eligible projects will be given 75 per cent subsidy on purchase of the first 200 acres of land for setting up manufacturing units. The eligible projects will be provided good quality water at the rate of ₹ 12 per cubic metre for the first five years. If the investor decides to build its own desalination plant for captive use in the initial five years, the government will provide capital subsidy of 50 per cent of project cost, according to the policy document. The eligible manufacturing units would also get power tariff subsidy of ₹ 2 per unit for the first 10 years of going into production, it said, adding that such projects can also claim exemption from paying any electricity duty. To encourage investors under the policy, the state government has also announced to reimburse 100 per cent of stamp duty which investors would pay for the first time for taking land on lease, sale or on land transfer. In order to remove bottlenecks and provide quick clearances to investors, the state government will establish a single window mechanism to provide all the necessary approvals from one place, the policy document stated. Since uninterrupted power supply is crucial for such projects, the government will provide or facilitate "adequate redundancy in the <keyword id="6368906" type="DOMAIN" weightage="20" keywordseo="power-grid" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="power grid" meta.entityname="Power Grid Corporation of India Ltd." meta.entityid="4628" meta.seoname="power-grid-corporation-of-india-ltd">power grid</keyword> to ensure quality power supply for smooth operations". The policy also gives an assurance that the government will "develop appropriate water distribution to ensure the treated water is delivered to the eligible project". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gross-direct-tax-collections-rise-30/articleshow/94281181.cms">Gross direct tax collections rise 30%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/chinas-chip-output-shrinks-as-india-us-ramp-up-local-manufacturing/articleshow/94281093.cms">China's chip output shrinks as India, US ramp up local manufacturing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mukesh-ambani-donates-1-5-crore-to-tirumala-temple/articleshow/94280695.cms">Mukesh Ambani donates ₹ 1.5 crore to Tirumala temple</a>

Vedanta-Foxconn semiconductor plant site in Gujarat likely to be finalised in 2 weeks: Official

<ul class="summary-list"><li>Foxconn said Monday it's scrapping a $20 billion JV with Indian conglomerate Vedanta to make semiconductors. </li><li>Other plans to boost India's chipmaking sectors are also progressing slowly.</li></ul>India has big plans to boost its chipmaking industry, but the country is already meeting setbacks.On Monday, Taiwan's Foxconn — best known for being a major parts supplier to Apple — said it's withdrawing from a <a href="https://www.reuters.com/world/india/vedanta-foxconn-sign-mou-with-modis-home-state-20-bln-chip-foray-2022-09-13/" target="_blank" rel="noopener">$19.5 billion joint venture</a> with Indian conglomerate Vedanta without citing a reason for the breakup. The two companies <a href="https://www.foxconn.com/en-us/press-center/events/foxconn-events/740" target="_blank" rel="noopener">signed an agreement in February 2022</a> to form a joint venture, or JV, to manufacture semiconductors in India. "Foxconn has determined it will not move forward on the joint venture with Vedanta," the company, known as Hon Hai Technology Group in Taiwan and China, said in a <a href="https://emops.twse.com.tw/server-java/t05sr01_1_e?&amp;isNew=Y&amp;seq_no=2&amp;spoke_time=222046&amp;spoke_date=20230710&amp;co_id=2317" target="_blank" rel="noopener">Monday statement to the Taiwan Stock Exchange.</a> The JV is now wholly owned by Vedanta, it added.Foxconn said the two companies had worked for over a year to bring "a great semiconductor idea to reality," but have mutually agreed to end the JV, which is now wholly owned by Vedanta. <a href="https://www.reuters.com/technology/foxconn-pulls-out-india-chip-jv-with-vedanta-2023-07-10/" target="_blank" rel="noopener">A source familiar with the matter told Reuters</a> that concerns over delays for approvals of incentives contributed to Foxconn's decision to abandon the venture in Gujarat, the home state of Prime Minister Narendra Modi."There was recognition from both sides that the project was not moving fast enough, there were challenging gaps we were not able to smoothly overcome, as well as external issues unrelated to the project," Foxconn said in a separate Tuesday statement. It added the mutual breakup "is not a negative."Foxconn also said it plans to apply for Indian government incentives for chipmaking projects.Still, the breakup is seen as a setback to Modi's ambition for India to become a key player in the global chip supply chain amid the geopolitical tensions in the Taiwan Straits.India already has an existing chipmaking industry, but Taiwan — which China claims as its territory — produces a vast majority of the world's chips. <a href="https://www.businessinsider.com/tsmc-us-china-tensions-may-dictate-fate-of-global-economy-2022-10" target="_blank" rel="noopener">Taiwan Semiconductor Manufacturing Company alone makes over half of the world's supply,</a> Insider reported previously. However, India's chip manufacturing expansion plans have been moving slowly.Apart from Foxconn abandoning its JV with Vedanta, two other chipmaking ventures are also in limbo.A $3 billion venture under global consortium ISMC — which counts Israel's Tower Semiconductor as a partner — has stalled, as Tower is in the process of being <a href="https://www.intc.com/news-events/press-releases/detail/1527/intel-to-acquire-tower-semiconductor-for-5-4-billion" target="_blank" rel="noopener">acquired by tech bigwig Intel,</a> <a href="https://www.reuters.com/world/india/india-chip-plan-stalls-after-tower-intel-deal-setback-modi-2023-05-31/" target="_blank" rel="noopener">Reuters reported on June 1.</a>Another $3 billion project by Singapore-based IGSS venture has also been halted because the company wanted to re-submit its application for government incentives, per <a href="https://www.reuters.com/technology/foxconn-pulls-out-india-chip-jv-with-vedanta-2023-07-10/" target="_blank" rel="noopener">Reuters.</a>However, it hasn't been all bad news for India's tech ambitions. <a href="https://investors.micron.com/news-releases/news-release-details/micron-announces-new-semiconductor-assembly-and-test-facility" target="_blank" rel="noopener">US chipmaker Micron said last month</a> it plans to invest up to $825 million in a chip testing and packaging unit in India.Rajeev Chandrasekhar, India's minister of state for electronics and IT, <a href="https://twitter.com/Rajeev_GoI/status/1678389567504916480" target="_blank" rel="noopener">tweeted Monday</a> that Foxconn's decision to <a href="https://indianexpress.com/article/business/foxconn-pulls-out-india-chip-jv-vedanta-8823949/" target="_blank" rel="noopener">pull out of its JV Vedanta</a> would have "no impact" on the country's chipmaking goals."To those editorializing abt this decision of Foxconn/Vedanta being a 'blow' to Indias Semicon ambition , I can only say its a bad idea to bet against India under PM Modi," Chandrasekhar tweeted. Vedanta did not immediately respond to a request for comment from Insider.

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Semicon India 2024: This is perfect time for India to develop semiconductors, says MICRON CEO Sanjay Mehrotra

ANI

Tata Electronics signs pact with Tokyo Electron to buy semicon equipment

PTI

Vedanta-Foxconn semiconductor plant site in Gujarat likely to be finalised in 2 weeks: Official

PTI

From a failed $20 billion joint venture to stalled projects, India's dreams of becoming a chipmaking powerhouse are off to a bad start

Huileng Tan

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