The government should take a cautious approach in approving the country’s first semiconductor plant as its success is critical given the Centre and state governments will together contribute a 70% subsidy for building it, said Ajai Chowdhry, co-founder of HCL and adviser to the India Semiconductor Mission (ISM).
“If India is going to give 70%, that project better work. If it fails, it reflects very badly on the Indian government for taking the wrong decision. So, it’s become a bit scary in some manner to take this decision. So, the government is being extra careful in taking the steps ahead and rightfully so, because 70% you’re giving, and if the project does not flower or work for India, it will be a big disaster," Chowdhry said in an interview.
This story is from the June 01, 2023 edition of Mint Mumbai.
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This story is from the June 01, 2023 edition of Mint Mumbai.
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