Funding Semicon Projects Not An Issue: IT Secy

New Delhi: The government has committed about Rs62,000 crore in incentives for electronic plants and there is no issue in funding semiconductor projects, S Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY), said. He told PTI that out of Rs76,000 crore approved earlier, the government still has scope to accommodate small projects and will approach authorities when there are new projects in place.

“Out of the Rs76,000 crore intended for the semiconductor mission, we have committed about Rs62,000 crore, including the last scheme which was cleared for Kaynes. As of now, wherever claims have come up, we are settling them with maximum dispatch, and there is no funding issue right now at all,” Krishnan said.

The government has approved five semiconductor projects entailing investments of around Rs1.52 lakh crore or about $18 billion.