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Telangana Chief Minister A. Revanth Reddy on Tuesday assured Taiwanese contract manufacturing giant Foxconn all the support for its manufacturing centre at Kongara Kalan near Hyderabad and also upcoming projects in the state.
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The new incentive plan -- which is likely to be launched at the start of the next fiscal year -- will have a corpus of Rs 10,000 crore, ET has reported. It will be an updated version of the current Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).
The Tata Group is reportedly awaiting a final nod by the Centre after fruitful discussions with the Assam government over the Rs 40,000 crore OSAT plant.
Tata Group, under Tata Electronics Private Limited (TEPL), a greenfield venture with expertise in manufacturing precision components, will set up an Outsourced Semiconductor Assembly and Test (OSAT).