Akash Tripathi, chief executive of MyGov, will be the new Chief Executive Officer (CEO) of India Semiconductor Mission from October 9, The Economic Times (ET) said on Monday. The Information Technology (IT) ministry had notified the addition to Tripathi's portfolio of duties on September 22.
The tenure of the current CEO of India Semiconductor Mission (ISM), Amitesh Kumar Sinha, will end on October 4.
Launched in 2021, ISM's main focus is to establish a semiconductor manufacturing ecosystem in India. It was allocated $10 billion by the Centre. The ISM screens applications received for manufacturing semiconductors in India and shortlists the ones that are eligible for subsidies.
According to the IT ministry, "ISM has all the administrative and financial powers and is tasked with the responsibility of catalysing the India semiconductor ecosystem in manufacturing, packaging, and design. ISM has an advisory board consisting of some of the leading global experts in the field of semiconductors. ISM is serving as the nodal agency for efficient, coherent, and smooth implementation of the programme for the development of the semiconductor and manufacturing ecosystem in India."
Under the scheme, the Centre has also approved the modernisation of the Semiconductor Laboratory in Mohali as a brownfield Fab.
On September 23, IT Minister Ashwini Vaishnaw broke ground for a $2.75 billion semiconductor facility by Micron in Sanand, Gujarat. It is expected to be operational by the end of 2024.
At the event, Vaishnaw said that two large semiconductor proposals are under process and expected to take shape in the coming few months. He said the projects will focus on a special area where India can emerge as a leader at the global level.
Vaishnaw also said that the global semiconductor company is noticing the progress made by India in the segment and Prime Minister Narendra Modi's capability to execute large and complex policy decisions.
"This has developed India as a major trusted geography in which global industry players want to come. We can see in the coming few months at least two more large semiconductor proposals taking shape," Vaishnaw said, as reported by Press Trust of India (PTI).
In June, Micron announced setting up a semiconductor assembly and test plant in Gujarat, entailing a total investment of $2.75 billion (around Rs 22,540 crore). Micron will invest up to $825 million in setting up the plant in two phases, and the rest of the investment will come from the Centre and the state government.
The company has roped in Tata Projects for the phased construction of the new assembly and test facility in Sanand.