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Israeli company plans $8B semiconductor facility in India, offering unique technology and significant investment.

Israel’s Tower Semiconductor Proposes $8 Billion Chip Plant in India

BENGALURU Proposal

Israel’s Tower Semiconductor has submitted a proposal to the Indian government to build an $8 billion chipmaking facility in the South Asian nation, as reported by national daily Indian Express. The company is seeking government incentives for its plan and is looking to manufacture 65 nanometre and 40 nanometre chips in India.

Response

Tower Semiconductor and India’s IT ministry have not immediately responded to requests for comment, adding an air of mystery to the ambitious proposal.

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Chip Manufacturing

Chip manufacturing is a key area of focus for Prime Minister Modi’s business agenda, but initial bids to offer $10 billion in incentives to the industry have faced obstacles, with some proposals stalled or cancelled.

It’s clear that Israel’s Tower Semiconductor is looking to play a significant role in India’s chip manufacturing industry, with an $8 billion investment signaling their commitment to the market. The response from both the company and the government will be eagerly anticipated.

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