The Vedanta Foxconn joint venture has announced it has resubmitted an application to establish an electronic chip manufacturing plant.
The company intends to build a world-class semiconductor fab in India, adhering to the revised guidelines.
The joint venture, known as Vedanta Foxconn Semiconductor Ltd, expressed its commitment to the project in a statement.
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The application has been resubmitted under the modified semiconductor program, which offers enhanced fiscal incentives.
The Indian government has revised the program to provide fiscal support of 50 percent of the project cost for setting up semiconductor fabs in India, including those utilizing mature nodes.
Similarly, a 50 percent fiscal incentive is available for establishing Display Fabs employing specified technologies.
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Previously, the scheme provided financial support of 30 percent of capital expenditure for approved units involved in the production of compound semiconductors, silicon photonics, sensor fabs, and semiconductor assembly test marking and packaging (ATMP) facilities in India.
Vedanta Foxconn’s CEO, David Reed, had previously said the company plans to manufacture 28-nanometer and 40-nanometer wafers.
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The production is projected to commence in early 2027 with an initial capacity of 5,000 wafers per month, and later expand to a maximum capacity of 40,000 wafers per month.
