India is Reportedly in talks with Semiconductor Giants to set up Local Production plants in India
The Government of India in a bid to boost the semiconductor industry is inviting global chip manufacturers such as Intel, Taiwan Semiconductor Manufacturing Co, and GlobalFoundries. As per a report by Bloomberg News, the Indian Government is currently in talks with these chipmakers to build manufacturing plants in India, thereby bringing high-tech manufacturing to the nation. Various consumer electronics like smartphones, laptops, computers, cars, smart home appliances, and many other things use these semiconductor chips. Last year in the month of December, the Indian government declared a production-linked incentive (PLI) scheme worth ₹76,000 crores (around $10 billion) for creating a semiconductor ecosystem in India. According to this PLI scheme, the government has offered to cover up to 50% of the project cost.
In an interview, the Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, said, “Most of the pitches to these big companies, I’m making myself. We’re meeting the CEOs, talking to them, making presentations.” Mr. Chandrasekhar further informed that states in India are competing to attract semiconductor companies. He said, “They are all open to sitting down and negotiating what other incentives, apart from land, they can offer investors. It is a keenly contested, keenly sought-after investment by states.”