Tower Semiconductor has recently proposed the construction of an $8 billion chipmaking facility in India. The facility would focus on manufacturing 65nm and 40nm chips, pending approval and incentives from the Indian government.
This initiative aligns with India's focus on chip manufacturing as part of its business agenda, specifically in response to Prime Minister Modi's strategic priorities. However, initial efforts to provide $10 billion in incentives to the industry have faced challenges, with some proposals encountering delays or cancellations. As of now, both Tower Semiconductor and India's IT ministry have not released official comments regarding this proposal.
