Tower Semiconductor Plans To Set Up $8 Bn Chip Plant In India

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The company had earlier applied to set up a $3 billion chips making plant in Karnataka in partnership with international consortium ISMC.
Israel’s Tower Semiconductor has proposed to establish an $8 billion chip making facility in India. The company aims to leverage government incentives to support this venture, focusing on the production of 65 nanometre and 40 nanometre chips within the country. 

Minister of state for electronics and IT Rajeev Chandrasekhar and Tower Semiconductor’s chief executive officer (CEO) Russel C Ellwanger discussed its partnership with India in the chip manufacturing space, last October.

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The company had earlier applied to set up a $3 billion chips making plant in Karnataka in partnership with international consortium ISMC. The plan was suspended due to the company’s then impending merger with Intel.

This move is part of a broader initiative under Prime Minister Narendra Modi’s administration to boost chip manufacturing in India. Despite the government’s efforts to attract the semiconductor industry by offering $10 billion in incentives, challenges have been encountered, with some bids either stalling or being canceled. 

Tower Semiconductor’s interest in establishing a facility in India signifies a potential advancement in Modi’s objective to enhance the nation’s capacity in semiconductor production. India does not yet have any chip manufacturing plants,but Taiwan’s Foxconn and India’s Vedanta are in the race to make chips in the country.

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