The Indian government has approved a 1.28 trillion rupee plan to expand the semiconductor industry.

Foreign Media: The Indian government has approved an expanded semiconductor industry plan, with an additional investment of 1.28 trillion INR (approximately 13.3 billion USD), focusing on chip design, intellectual property development, construction of wafer fabrication plants, and strengthening research and development.

This move continues India's recent strategy to promote domestic electronics manufacturing and reduce reliance on external sources, aiming to transform India into a major global hub for the electronics industry.

To date, India has approved 12 chip manufacturing projects and 24 design projects under the 2021 semiconductor incentive program. Meanwhile, the Indian Cabinet has also approved a 625 billion INR (approximately 6.5 billion USD) mobile phone manufacturing support scheme over five years, offering sales subsidies and incentives for sourcing local components to attract business investment. The scheme is expected to create around 60,000 direct jobs.

Original Source: toutiao.com/article/1870789096870992/

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