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India Unveils $10.2B Plan to Attract Semiconductor Makers

posted by janrinok on Wednesday December 29 2021, @05:42PM   Printer-friendly

upstart writes:

India unveils $10.2B plan to attract semiconductor makers:

India on Wednesday announced a $10.2 billion plan to try to attract global chipmakers to set up shop in the country and transform it into a production hub of semiconductors.

The plan unveiled by Information Technology and Telecom Minister Ashwini Vaishnaw comes amid a severe shortage of semiconductors caused by the COVID-19 pandemic, which has led to global shortages of products that need them, including new cars.

India wants to lure countries with economic incentives, including manufacturers with operations in China that might be willing to shift to India because of the ongoing trade disputes between the U.S. and China, Indian officials and business leaders have said.

He told reporters that incentives will attract companies involved in various parts of the semiconductor manufacturing process. India's government will provide fiscal support of up to 50% of project costs to eligible display and semiconductor fabricators, Vaishnaw said.

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  • (Score: 0) by Anonymous Coward on Wednesday December 29 2021, @06:17PM

    by Anonymous Coward on Wednesday December 29 2021, @06:17PM (#1208522)

    Intel - first to bite? Or just a wishful rumor...

    https://timesofindia.indiatimes.com/business/india-business/vaishnaw-welcomes-intel-in-chip-manufacturing-with-tweet/articleshow/88555642.cms [indiatimes.com]

    NEW DELHI: Intel, one of the world’s top tech companies, may well be looking at setting up a semiconductor manufacturing unit in India. The government aggressively kick-started attracting chip manufacturing in the country after announcing a Rs 76,000-crore incentive package earlier this month.
    Hints to Intel’s impending India plans on the semiconductor manufacturing front (it already has a large chip design centre in India) were dropped by electronics and IT minister Ashwini Vaishnaw, who sent out a tweet at 7:49 AM in the morning which read, “Intel — welcome to India”.
    Vaishnaw’s tweet was a response to a tweet sent out earlier by one of Intel’s top officials and president of foundry services, Randhir Thakur, who had praised the Indian government’s recent announcement and incentive package regarding manufacturing of semiconductors in the country.
    “Congrats to @GoI_MeitY @AshwiniVaishnaw (minister Vaishnaw) @Rajeev_ GoI for semiconductor design & manufacturing incentives for India as hub for electronics & semiconductors. Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging & logistics,” Thakur — a US-based senior VP of the company — said in his tweet where he also tagged minister of state for IT and electronics Rajeev Chandrasekhar.