TechFlow news, July 15, India's Minister of Electronics and Information Technology announced on Wednesday that India has committed an additional 1.28 trillion rupees (approximately $13.3 billion) in funding to boost domestic chip manufacturing and advance its ambitious goal of becoming a global manufacturing hub. This plan will further build upon the $10 billion incentive program previously launched by India in 2021. That project had promised to cover half of the construction costs for semiconductor projects.
Previous efforts helped India kickstart the development of its chip industry, attracting enterprises such as U.S. memory chip manufacturer Micron Technology and the Tata Group, whose business covers multiple fields ranging from salt production to software, to enter Gujarat in the west. Indian Prime Minister Modi is working to strengthen India's chip industry layout. Currently, the plan is still in the early stages, with only a few large projects underway. India hopes to leverage its advantages in engineering and design talent as well as various subsidy policies to attract large chip manufacturers to establish themselves. (Jin10)
