Advanced Facilities Efficient ProductionIndia is eager to transform into a global electronics manufacturing center. Through the new law, the government will provide $10 billion in rewards to attract semiconductor and display manufacturers to India for production. It is rumored that Hon Hai is interested in setting up chip factories in India.
Reuters reported on the 15th that the Indian government statement stated that qualified panel and chip factories can receive up to 50% of the government funding for their project costs.
Indian officials revealed that Hon Hai, Israel's Tower Semiconductor, and a Singaporean consortium are all interested in setting up chip factories in India. The British Vedanta Group wants to build a new panel factory. Hon Hai, Tower, and Vedanta did not immediately respond.
At the time of the global chip shortage, countries are spending money to encourage local production of semiconductors. The Indian authorities have also adopted another award and assistance program, which will assist 100 Indian companies in the development of integrated circuits and IC designs. Indian Minister of Science and Technology Ashwini Vaishnaw said that the new plan will help the country create a "complete semiconductor ecosystem", from IC design to wafer production, packaging and testing.
Indian Prime Minister Narendra Modi has pushed hard to make in India, and has provided 30 billion U.S. dollars in incentives so far to attract global electronics giants to set up factories there and to stimulate the development of local industries. The government's measures successfully won the investment commitments of the three major Apple foundries - Hon Hai, Wistron, and Pegatron; and allowed India to closely follow China and become the world's second largest producer of smart phones.