HCL Group is among the companies that have applied to set up electronic chip plants under the "Scheme for Compound Semiconductors"
The group has a diverse workforce exceeding 300 employees and a sales turnaround of $800 million.
India has joined the race to become a chip-making hub, joining other countries that seek to build self-reliance in manufacturing the crucial electronics component.
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The world's biggest memory chipmaker is likely to see its semiconductor earnings charge to a three-year high - a much-needed shot in the arm - just as sales of its flagship Galaxy S4 smartphone begin to flag, analysts say.