India lobbies Intel, Globalfoundries, TSMC for fabs
The Indian government is talking to Intel, Globalfoundries and TSMC about setting up local chipmaking operations, according to a Bloomberg report that quotes Rajeev Chandrasekhar, minister of state for technology and entrepreneurship.
The move would come as part of larger efforts by the government to stimulate the building wafer fabs. Late in 2021 Prime Minister Narendra Modi’s government unveiled a $10 billion incentives plan, offering to cover as much as half of a project’s cost, to persuade display and semiconductor fabricators to set up base in India (see India details wafer fab subsidy scheme favoring 28nm).
However, the subsidy scheme has so far achieved little attention from global chip companies. The only significant announcement to-date was joint venture between Foxconn (Hon Hai Precision Industries) and domestic company Vedanta (see India’s Vedanta budgets $15 billion for electronics entry).
Now Rajeev Chandrasekhar, a former Intel engineer and current minister of state for technology and entrepreneurship in the Indian government, has told Bloomberg News that he is talking to major chip companies. “Most of the pitches to these big companies, I’m making myself. We’re meeting the CEOs, talking to them, making presentations,” Bloomberg quoted him saying.
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