India’s announcement of the plan comes at a time when automakers and tech companies are grappling with global semiconductor shortages.
India has approved a $10 billion stimulus plan to attract semiconductor fabricators and display makers, its technology minister said on Wednesday as part of efforts to establish itself as a global electronics production hub.
A government source told Reuters that Israel’s Tower Semiconductor, Apple’s contract maker Foxconn and a Singapore-based consortium have shown interest in setting up semiconductor fabrication units in India.
The source added that Vedanta Group is also keen to set up a display fabrication plant in India.
New Delhi also approved a Design Linked Incentive (DLI) scheme to incentivize 100 local companies in semiconductor design for integrated circuits and chipsets, Technology Minister Ashwini Vaishnav told a news briefing.
“… Prime Minister (Narendra Modi) has taken a historic decision today which will help develop a complete semiconductor ecosystem in the country from the design of semiconductor chips to their manufacturing, packing and testing,” he said.
The world’s second-largest smartphone maker India has announced the plan at a time when automakers and tech companies are grappling with global semiconductor shortages.
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The Tata Group, one of India’s largest conglomerates, is also getting into business and is in talks with three states to invest up to $300 million to set up a semiconductor assembly and testing unit, Reuters has reported. .
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