![FILE PHOTO: Illustration picture of semiconductor chips](https://turan.az/resized/news/2024/OQCuuhhmHCtzEzF5favQLY3Y4Tcrh8C7ryAZqXkK-750-500-resize.webp)
FILE PHOTO: Illustration picture of semiconductor chips
India gives green light to chip plants worth $15.2 billion
Reuters: India gave the go-ahead to construction of three semiconductor plants worth 1.26 trillion rupees ($15.2 billion) by firms including Tata Group and CG Power on Thursday, as the country pursues its goal of becoming an electronics powerhouse.
India, which is seeking to rival countries such as Taiwan in chipmaking, expects its semiconductor market to be worth $63 billion by 2026, but does not yet have a chipmaking facility.
Prime Minister Narendra Modi wants to make India a chipmaker for the world as his government tries to overcome setbacks faced in its bid to offer $10 billion in incentives to the industry.
Indian Electronics Minister Ashwini Vaishnaw said construction will begin on the plants within the next 100 days, adding that they will manufacture and package chips for sectors including defence, automobiles and telecommunication.
"This is a big decision for the country and a key accomplishment towards making India a self-dependent country," Vaishnaw told reporters.
He did not give updates on other key chipmaking applicants, including Indian conglomerate Vedanta, Taiwan's Foxconn and Israel's Tower Semiconductor.
Tata will partner with Taiwan's Powerchip to set up India's first chipmaking plant worth 910 billion rupees in Gujarat state's Dholera, he said, while CG Power will partner with Japan's Renesas Electronics Corp and Thailand's Stars Microelectronics for a 76 billion rupees chip packaging plant, also in Gujarat.
A third chip packaging plant worth 270 billion rupees will be set up in the eastern state of Assam by Tata unit Tata Semiconductor Assembly and Test Pvt Ltd, Vaishnaw added.
In World
-
Access to 14 villages in Russia's southern Belgorod region bordering Ukraine will be shut off for most civilians, governor Vyacheslav Gladkov said on Tuesday, citing the "extremely difficult" situation there due to Ukrainian shelling.
-
French President Emmanuel Macron accepted the prime minister’s resignation Tuesday but kept him on as head of a caretaker government, as France prepares to host the Paris Olympics at the end of the month.
-
The man who attempted to assassinate former president Donald Trump at a campaign rally in Pennsylvania told his boss that he needed the Saturday off because he had “something important to do,” according to a report on his final hours.
-
Former NATO leader George Robertson will lead a review of Britain’s military strategy to counter what he calls the “deadly quartet” of China, Iran, Russia and North Korea.
Сможет ли Москва сорвать уход Еревана под крыло Запада? - беседа с экспертом по Центральной Азии Аркадиtv Дубновым в программе "Çətin sual"
News Line
-
- Great East,
- 18:42
- 108
-
- Social,
- 14:32
- 299
-
- Social,
- 11:00
- 396
Leave a review