Minister of State for Electronics and IT Rajeev Chandrasekhar announced on Monday that India has received two proposals to establish semiconductor fabrication plants in the nation: one from the Israeli chip manufacturer Tower Semiconductor and the other from the Tata Group.
Almost $22 billion is the total value of the proposals, which is more than twice the $10 billion in incentives that New Delhi has set aside for the chip ecosystem.
The two fabrication plans that India has been presented with, which together amount to approximately $22 billion in investment, are from Tower Semiconductor and Tata. Chandrasekhar stated, “We also have two very big packaging proposals, one from the Tatas and the other from a consortium which is headed by a Japanese semiconductor company,” at the Tech Entrepreneurs Association of India (Team)-organized Mumbai Tech Week.
He was speaking with The Indian Express group’s executive director, Anant Goenka.
First to report that Tower has put in a fantastic $8 billion proposal was The Indian Express.
For the first time in seventy-five years, India is going to witness large, multibillion dollar, fantastic proposals. The proposals are presently being assessed and approved by the Indian government,” he stated.
Chandrasekhar added that the government is very optimistic about online gaming and that a framework allowing safe and acceptable standards for the industry will soon be created.
He claimed that even Prime Minister Narendra Modi was of the opinion that the nation’s digital economy needed to support and foster the growth of the online gaming industry.
“We are gradually moving toward establishing a legal framework that will permit profitable, safe, and acceptable online gaming. I would advise all business owners to maintain their faith. We hope to establish a much more stable and predictable online gaming regime once Prime Minister Narendra Modi completes his third term in office, Chandrasekhar stated.
According to Chandrasekhar, the government has developed a framework for an online gaming industry self-regulatory organization. “Our goal is for this self-regulation to be as autonomous as possible from both the government and the industry,” he stated.
When asked about the RBI’s regulatory crackdown on the Paytm Payments Bank, Chandrasekhar responded that it is common for entrepreneurs to break the law when they are pursuing innovation and entrepreneurship.
“You cannot live in denial of the reality that there are rules and laws that have to be complied with, and that applies to big, small companies and startups,” he said, adding that this applies to both successful and up-and-coming entrepreneurs.
According to him, there will always be some kind of boundary and the financial sector in the nation is regulated.
