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Israel’s Tower proposing to build an $8 billion chip plant in India

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Israeli semiconductor company Tower Semiconductor Ltd has put forward a proposal to establish an $8 billion chip manufacturing plant in India. This move aims to bolster India’s domestic chip production capabilities, a critical sector amid global semiconductor shortages. Tower Semiconductor’s proposal underscores India’s increasing prominence in the semiconductor industry and signifies a significant step towards enhancing the country’s self-reliance in high-tech manufacturing.

Israel’s Tower Semiconductor has proposed to build an $8 billion chipmaking facility in India, specifically aiming to manufacture 65 nanometre and 40 nanometre chips in the country. The company is seeking government incentives for this plan, and the proposal has been submitted to India’s government. This initiative is in line with Prime Minister Narendra Modi’s business agenda, which includes a focus on semiconductor manufacturing. The company and India’s IT ministry have not immediately responded to requests for comment.

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