Intel will set up a semiconductor chip manufacturing plant in India, according to India’s roads and transport minister.
The Indian government announced a $10 billion incentive program offering up to 50 percent of project costs to attract display and semiconductor makers to set up bases in India.
In addition, in April this year, news that India is in talks with chip makers Intel, Grofond (GlobalFoundries) and TSMC to establish their local semiconductor plants in India.
It is worth mentioning that Tower Semiconductor, an Israeli chipmaker previously acquired by Intel for $5.4 billion, is also in active discussions with the government to set up a manufacturing plant in India.
In February this year, Intel announced the acquisition of Israeli chipmaker Tower Semiconductor for $5.4 billion to gain more specialized production capabilities. This acquisition will strengthen Intel’s position in the global foundry industry.
Analysts believe that the acquisition is very reasonable, Tower is a mature process wafer foundry industry, and this area is expected to be in demand in the next few years.
Intel CEO Pat Gelsinger said Intel and Tower’s technologies are complementary and that the foundry market, currently at $100 billion, is expected to grow dramatically through 2030.