India approves tens of billions of dollars in semiconductor investment plan

According to Reuters, the Minister of Technology of India said on Wednesday (15th) that India has approved a $10 billion stimulus plan to attract investment from semiconductor manufacturers and display manufacturers as part of its efforts to build a global electronics production center.

Government sources told Reuters that Israel’s Tower Semiconductor, Foxconn, and a Singaporean consortium have all expressed interest in setting up factories in India.

In addition, New Delhi has approved a design-related incentive plan to encourage 100 local companies to engage in semiconductor design for integrated circuits and chipsets.

It is reported that Tata Group, one of India's largest conglomerates, is also involved in this business and is negotiating with three states to invest up to 300 million US dollars to establish a semiconductor assembly and testing department.

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