As per ET’s report, the ministry of electronics and information technology has said in its bid that the project management company will also be responsible for the estimation of the financial aspects of the project

On the other hand, the company will also be responsible for “reviewing and providing suggestions to the quality control protocols adopted for the project with respect to the product qualification

Earlier this month, MeitY was said to knock on the doors of the finance ministry and seek more funds for its semiconductor mission

The Centre has reportedly invited bids from project management companies and joint venture to oversee operations of the India Semiconductor Mission and its aspects.

As per ET’s report, the ministry of electronics and information technology has said in its bid that the project management company will also be responsible for the estimation of the financial aspects of the project, overall project cost and monitoring the details of the actual expenditure in items such as plant, machinery, clean rooms, equipment and associated units.

On the other hand, the company will also be responsible for “reviewing and providing suggestions to the quality control protocols adopted for the project with respect to the product qualification, reliability of chips, testing and quality of chips, yield benchmark and production target achievement,” the IT ministry was quoted as saying in the report.

Earlier this month, MeitY was said to knock on the doors of the finance ministry and seek more funds for its semiconductor mission. As per The Hindu businessline, it has begun to commit funds to the tune of INR 70,000 Cr (92%) out of the scheme’s total outlay of INR 76,000 Cr.

MeitY is responsible for the execution of the ISM scheme of INR 76,000 Cr. The initiative is a specialised and independent business division within the Digital India Corporation with an aim to build a strong semiconductor and display ecosystem to enable the country’s emergence as a global hub for electronics manufacturing and design.

Earlier this year, Tata group announced setting up a semiconductor ATMP (a combination of assembly, testing, marking and packaging) worth INR 27K Cr in March 2024 Assam.

In February, Tata Electronics (TEPL) also received approval to build India’s first AI-enabled semiconductor fabrication facility in Gujarat’s Dholera.

As per Inc42’s report, the Indian semiconductor market is expected to reach $150 Bn by 2030, up from $33 Bn in 2023, witnessing a 24% CAGR.