Israel’s Tower Proposes $8 billion Chip Plant in India – Report
Bengaluru (Reuters) – Tower Semiconductor’s Proposal
Israel’s Tower Semiconductor has submitted a proposal to the Indian government to construct an $8 billion chip-making facility in India, as reported by the national daily Indian Express on Sunday. The company is seeking government incentives for its plan and aims to manufacture 65 nanometre and 40 nanometre chips in India, according to the report.
Chip Manufacturing in India
Chip manufacturing is a significant aspect of India’s business agenda, with the government offering $10 billion in incentives to the industry. However, some proposals have faced challenges, leading to delays and cancellations. The company and India’s IT ministry have not yet responded to requests for comment.
Response from Tower Semiconductor
As of now, Tower Semiconductor and India’s IT ministry have not responded to the requests for comments. The company’s proposal aims to manufacture 65 nanometre and 40 nanometre chips in India, seeking government incentives for its plan, as reported by the national daily Indian Express on Sunday.
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