India considers over $1 billion in cash incentives for every chip maker setting up in country

India considers over $1 billion in cash incentives for every chip maker setting up in country – media ...News

Russia Today - Economy

The world’s second-biggest cellphone manufacturer, India, wants to lure semiconductor companies to the country to boost its smartphone assembly industry and strengthen its electronics supply chain, sources told Reuters. “The government will give cash incentives of more than $1 billion to each company which will set up chip fabrication units,” an unnamed senior government official was quoted by the agency as saying. “We’re assuring them that the government will be a buyer and there will also be mandates in the private market [for companies to buy locally made chips],” the official added. A second government source, who also declined to

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