India outlines $10 billion plan to woo global chip makers

India outlines $10 billion plan to woo global chip makers

India outlines $10 billion plan to woo global chip makers

Information about India outlines $10 billion plan to woo global chip makers

Kevin David Scam or Legit


By Sankalp Phartiyal
NEW DELHI (Reuters) -India has approved a $10 billion incentive plan to attract semiconductor and display manufacturers, its technology minister said on Wednesday, as part of a deepening push to establish the country as a global electronics production hub.
Under the plan, India’s government will extend fiscal support of up to 50% of a project’s cost to eligible display and semiconductor fabricators, the government said in a statement.
Israel’s Tower Semiconductor, Taiwan’s Foxconn and a consortium from Singapore have shown interest in setting up chip factories in India while Vedanta Group was keen to set up a display plant, a government source told Reuters.
Tower, Foxconn and Vedanta did not immediately respond to requests for comment.
“The program …

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