Shardul Amarchand Mangaldas & Co. advises IFCI Limited and India Semiconductor Mission on USD 1.1 Billion Fiscal Support for Semiconductor OSAT Facility in Assam

February 13, 2026

Shardul Amarchand Mangaldas & Co. (“SAM”) acted as legal counsel to IFCI Limited and the India Semiconductor Mission (“ISM”) in connection with the provision of fiscal support amounting to approximately USD 1.1 billion (INR 10,225 crore) for the establishment of a semiconductor Outsourced Semiconductor Assembly and Test (OSAT) facility in Assam by Tata Semiconductor Assembly and Test Private Limited and Tata Electronics Private Limited.

The transaction was undertaken under the Government of India’s modified scheme for promoting semiconductor manufacturing and advanced packaging facilities in the country. It involved the execution of a fiscal support agreement, security agreement and escrow agreement covering the development of wire bond packaging, flip chip and ISP system facilities in Assam. The project is expected to strengthen India’s electronics manufacturing ecosystem, enhance domestic semiconductor capabilities, reduce reliance on imports, and generate employment across the automotive, electronics, telecom and industrial manufacturing sectors.

The SAM transaction team comprised Anurag Dwivedi, Partner; Megha Kaur, Principal Associate; and Amogh Mittal, Associate.