NEW DELHI/OAKLAND, California : A planned $3 billion semiconductor facility in India by a consortium that counted Israeli chipmaker Tower as a tech partner has been stalled due to the company's ongoing takeover by Intel, three sources said, dashing India's chip making plans.A second mega $19.5 billion pla
NEW DELHI/OAKLAND, California : A planned $3 billion semiconductor facility in India by a consortium that counted Israeli chipmaker Tower as a tech partner has been stalled due to the company's ongoing takeover by Intel, three sources said, dashing India's chip making plans.
The challenges faced by the companies deal a major setback to Prime Minister Narendra Modi, who has made chipmaking a top priority as he wants to"usher in a new era in electronics manufacturing" by luring global companies. The Vedanta JV plant is to come up in Modi's home state of Gujarat, while ISMC and IGSS each committed $3 billion for plants in two separate southern states.
Talking about India's semiconductor ambitions, India's deputy IT minister Rajeev Chandrasekhar told Reuters in a May 19 interview ISMC"could not proceed" due to Intel acquiring Tower, and IGSS"wanted to re-submit " for incentives. The"two of them had to drop out," he said, without elaborating.
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