India Semiconductor Mission, CG Power and CG Semi signed fiscal support agreement [Video]

The India Semiconductor Mission (ISM) on Friday signed a Fiscal Support Agreement (FSA) with CG Power and CG Semi, that will help the country develop a robust semiconductor manufacturing ecosystem.

CG Power is setting up its semiconductor OSAT unit in Sanand, Gujarat, which is in partnership with Renesas Electronics America and Stars Microelectronics (Thailand), with a total investment of approximately Rs 7,600 crore.

The FSA marks an important step in India’s efforts to strengthen its semiconductor manufacturing through CG’s OSAT facility which was approved under the Modified Programme for Development of Semiconductor and Display Manufacturing Ecosystem, according to the IT Ministry.

The project will benefit from 50 per cent fiscal support on a pari-passu basis for the eligible capex from India Semiconductor Mission.

S. Krishnan, Secretary, MeitY, commended CG Power for their effort in deeply understanding the nuances of the sector and their swift progress while emphasising on the significance …