Intel denies the plans to build a manufacturing plant in India

Intel said in a statement that the company currently has no plans to build a manufacturing plant in India. Earlier today, India's transport minister said that Intel will build a semiconductor manufacturing plant in India. In April this year, it was reported that India was negotiating with chip manufacturers Intel, GF, and TSMC, hoping that they would build a local semiconductor factory in India.

The move comes after the Indian government unveiled a $10 billion incentive scheme late last year offering up to 50 percent of project costs to lure display and semiconductor makers to set up bases in India.

According to the financial report, Intel’s revenue in the second quarter was US$15.321 billion, down 22% year-on-year; its net loss was US$454 million, down 109% year-on-year.

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