India Gets $20 Billion in Investment Proposals for Chip Production
- Five companies have shown interest in making fabs locally
- The semiconductor market is estimated to reach $63 bn by 2026
Researchers inside a semiconductor fabrication lab in Bangalore.
Photographer: Manjunath Kiran/AFP/Getty Images
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India has received proposals worth $20.5 billion from five companies to manufacture semiconductor fabs and display fabs locally, according to a government statement.
Companies including Vedanta in joint venture with Foxconn, Singapore-based IGSS Ventures pte, and ISMC have proposed $13.6 billion investments for manufacturing the chips, which are used in a wide array of products ranging from 5G devices to electric cars. The three companies have sought support of $5.6 billion from the federal government under its incentive plan.