India is expected to unveil a funding of more than a trillion rupees, nearly $10.8 billion, to fuel domestic chip-making. With 10 projects already approved, India aims to become a global manufacturing hub in the near future.
This new set of funds is expected to provide subsidies for chip designing projects, supply chain developments, and manufacturing equipment. Currently, the plan is under evaluation and may see the green light in a couple of months.
With the accelerated demand for chips driven by the rise of AI and electronics, the market is evolving at an exponential rate. Under the current leadership, India aims to position itself at the top to meet global demand.
With companies like Micron, TATA, and Foxconn already building India’s chip ecosystem, the country is expected to be close to industry leaders such as Taiwan and the US by 2032.
By: Shreya Bansal, Sub-Editor
