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India Sees Chipmakers Starting Local Production in 2-3 Years

  • Government to accept applications from chipmakers from Jan. 1
  • India currently imports 100% of its chip requirements
Bloomberg business news

WATCH: Minister Vaishnaw discusses India’s decision to approve incentives for development of semiconductors and display manufacturing. 

Source: Bloomberg
Updated on

India expects at least a dozen semiconductor manufacturers to start setting up local factories in the next 2-3 years after the South Asian nation offered incentives for the sector, the country’s information and technology minister said. 

Prime Minister Narendra Modi’s government is working on developing a full ecosystem for the chip manufacturing industry and will start taking applications under its incentive scheme from Jan. 1, Ashwini Vaishnaw, who also holds the railways and telecom portfolio, said in an interview with Bloomberg Television’s Haslinda Amin and Rishaad Salamat.