Tower Semiconductor, a chipmaker based in Israel, has recently proposed setting up an $8 billion chipmaking plant in India. The company aims to manufacture 65 nanometer and 40 nanometer chips that can be utilized in various industries, including automotive and wearable electronics. This move comes as part of India’s larger chip manufacturing ambitions.
The proposal from Tower Semiconductor follows a meeting between the minister of state for electronics and IT, Rajeev Chandrasekhar, and Tower Semiconductor’s CEO, Russel C Ellwanger, back in October 2023. The meeting discussed the potential partnership between the Israeli chipmaker and India in the chip manufacturing space.
If accepted by the Indian government, Tower Semiconductor’s proposal would greatly contribute to India’s chip manufacturing sector. The country currently offers a 50% capital expenditure subsidy to successful applicants under the $10 billion chip manufacturing scheme.
Previously, Tower Semiconductor had applied to establish a $3 billion chipmaking plant in Karnataka in partnership with international consortium ISMC. However, this plan was put on hold due to the company’s impending merger with Intel.
In addition to Tower Semiconductor, CG Power and Industrial Solutions have also announced plans to partner with Renesas Electronics and Stars Microelectronics to set up a semiconductor facility in India. This venture will involve the establishment of an outsourced semiconductor assembly and testing (OSAT) facility. CG Power will hold the majority stake in the joint venture.
India is actively seeking to develop its chip manufacturing capabilities, and companies like Foxconn and Vedanta are also considering setting up chip plants in the country.
With the potential establishment of Tower Semiconductor’s $8 billion chipmaking plant and other initiatives in the works, India’s chip manufacturing industry is poised for significant growth. These developments will not only boost the country’s technological capabilities but also promote economic growth and create job opportunities in the semiconductor sector.
FAQ Section:
Q: What is Tower Semiconductor’s proposal in India?
A: Tower Semiconductor plans to set up an $8 billion chipmaking plant in India.
Q: What type of chips will Tower Semiconductor manufacture?
A: Tower Semiconductor aims to manufacture 65 nanometer and 40 nanometer chips that can be used in industries such as automotive and wearable electronics.
Q: What is India’s ambition in chip manufacturing?
A: India is actively seeking to develop its chip manufacturing capabilities.
Q: Who did Tower Semiconductor meet with in October 2023?
A: Tower Semiconductor’s CEO, Russel C Ellwanger, met with India’s minister of state for electronics and IT, Rajeev Chandrasekhar.
Q: What is the current capital expenditure subsidy offered by India to successful applicants?
A: India currently offers a 50% capital expenditure subsidy under the $10 billion chip manufacturing scheme.
Q: Why was Tower Semiconductor’s previous plan in Karnataka put on hold?
A: Tower Semiconductor’s plan to establish a $3 billion chipmaking plant in Karnataka was put on hold due to the company’s impending merger with Intel.
Definitions:
– Chipmaker: A company that manufactures microchips or integrated circuits for various electronic devices.
– Nanometer: A unit of length used in chip manufacturing to measure the size of transistors and other components.
– Capital expenditure subsidy: Financial assistance provided by the government to offset the costs of capital investments in certain industries.
– Semiconductor: A material with electrical conductivity between that of a conductor and an insulator, commonly used in electronic devices.
Suggested related links:
– Tower Semiconductor (Official website of Tower Semiconductor)
– Renesas Electronics (Official website of Renesas Electronics)
– Stars Microelectronics (Official website of Stars Microelectronics)
– Foxconn (Official website of Foxconn)
– Vedanta (Official website of Vedanta)
The source of the article is from the blog revistatenerife.com