Israel's Tower proposes $8 billion chip plant in India: Report

Tower, seeking government incentives for its plan, is looking to manufacture 65 nanometre and 40 nanometre chips in India, the report said.

Reuters

February 12, 2024 / 06:41 IST

Israel's Tower proposes $8 billion chip plant in India: Report

Israel's Tower Semiconductor has submitted a proposal to India's government to build an $8 billion chipmaking facility in the South Asian nation, national daily Indian Express reported on Sunday.

Tower, seeking government incentives for its plan, is looking to manufacture 65 nanometre and 40 nanometre chips in India, the report said.

The company and India's IT ministry did not immediately respond to requests for comment.

Chip manufacturing is a key plank of Modi's business agenda, but initial bids to offer $10 billion in incentives to the industry have floundered, with some proposals stalled or cancelled.

Reuters

first published: Feb 12, 2024 06:27 am

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