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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 Thursday December 30 2021, @10:37AM
It's more like the major items were reversed for the Enron deal (compared to the blog comment).
+ Enron had a mandated market (India had to buy the power at a high price).
+ Blog suggests that Intel (or whoever) should be able to import raw materials and machinery with zero import fees. Sales of completed chips will be to the Indian market, at market rates.
Or maybe the better point is that India, as it stands now, is far from a free market. In my experience (over the years, most recent was last month) their controls on import and export are crazy, not only large fees, but also ridiculous inspectors. My recent example, a shipment of some samples to USA (for testing) was denied export permission because the airfreight cost (for a small pallet) exceeded the declared value of the samples. This was deemed "irregular" and the samples went back to point of origin for still more paperwork!