Also in today's edition: Bengaluru Youth on National Problems, Dangerously Good & AI for Good
It’s finally happening. The much-awaited $10-billion subsidy to Vedanta’s semiconductor manufacturing proposal is to receive the government's nod. According to recent reports, the advisory committee is reviewing the proposals under the India Semiconductor Mission. But the question remains if India will have a semiconductor fab anytime soon.
The answer is still pegged precariously on the Vedanta-Foxconn partnership, wherein they announced plans to set up a semiconductor manufacturing unit in the country in early 2022. It was a 60:40 partnership between Vedanta and Foxconn with the former contributing $7-8 billion of the $20 billion investment. And this is where the plans got nixed – the need for billions of dollars.
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