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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.
(Score: 0) by Anonymous Coward on Wednesday December 29 2021, @07:29PM (1 child)
They should be investing in domestic infrastructure like transport, energy, agriculture, communications, not trying to bribe big tech into building another sweat shop that won't even employ a thousand people. Like most of Indian economy, this is a scam
(Score: 0) by Anonymous Coward on Wednesday December 29 2021, @08:36PM
Um, this may be the first time I've heard a fab called a sweat shop. Some of the most precision manufacturing ever done, and good margins on the product.
https://www.salary.com/research/salary/skill/semiconductor-fabrication-salary [salary.com] reports average salary (USA) at over $90K/year.