India's plan to develop semiconductor ecosystem set in motion
2 years, 10 months ago

India's plan to develop semiconductor ecosystem set in motion

Business Standard  

In September 2021, flustered by the government’s lack of clarity on its policy for chipmakers, Israel-based chipmaker Tower Semiconductor had threatened to pull the plug on its plan to set up a facility in India. About three months later, the government unveiled a $10 billion production-linked incentive scheme to attract semiconductor and display manufacturers, which seems to be bearing fruit. A joint venture of Vedanta and Foxconn, a consortium led by Abu Dhabi-based Next Orbit Ventures and IGSS Ventures of Singapore are the three companies that submitted applications for semiconductor plants. The Next Orbit Ventures-led consortium’s technology partner remains Tower Semiconductor, which was recently acquired by Intel for $5.4 billion.

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