India spends $10 billion to attract chip manufacturers TSMC and Intel?

The Indian government's earlier plan to attract foreign semiconductor companies to set up factories failed due to the low subsidy ratio, so it is preparing to increase subsidies. According to Indian media reports, the local government plans to allocate a budget of 760 billion Indian rupees (about 10.04 billion US dollars) to subsidize foreign companies to set up more than 20 semiconductor design, component manufacturing and display manufacturing plants in the next six years.

According to reports, officials from various Indian government departments are actively discussing with semiconductor manufacturers such as TSMC, Intel, AMD, Fujitsu and UMC. A senior official said, "Through different production-linked subsidy mechanisms, we are trying to expand the scope of Indian manufacturing and exports, and the semiconductor policy will help deepen India's manufacturing base."

Its goals include attracting foreign investors to set up one to two display manufacturing plants, 10 semiconductor design plants and 10 component manufacturing plants. It is reported that the plan may be submitted to the Indian cabinet for approval next week.