No funding issue for semicon projects: Official

New Delhi: The government has committed about Rs 62,000 crore in incentives for electronic plants and there is no issue in funding semiconductor projects, Electronics and IT Secretary S Krishnan has said.

He said that out of Rs 76,000 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 Rs 76,000 crore intended for the semiconductor mission, we have committed about Rs 62,000 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 Rs 1.52 lakh crore or about $18 billion.

He said that some funding is required for the Semiconductor Laboratory’s modernization in Mohali.

“We still have some funds to take up some smaller projects and approve them. Thereafter, we will have to go back to Ministry of Finance and Cabinet for approval when some new proposals come,” Krishnan said.

He said there is a high level of commitment from the government to make sure the semiconductor mission works.