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Global Chipmakers Assessing India Plant Locations, Minister Says

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WATCH: Minister of Railways, Communications, Electronics & Information Technology Vaishnaw discusses India’s plan to become a global electronics hub.Source: Bloomberg

Some of the world’s biggest chipmakers are evaluating locations in India for new plants in a bid to broaden manufacturing beyond their home bases, the country’s technology minister said on Thursday.

Companies including Taiwan Semiconductor Manufacturing Co. and South Korea’s Samsung Electronics Co. are investing tens of billions of dollars each year expanding their output capacity, and India is in talks with some of the giants to attract them into the country. Their expansion drive comes as nations around the globe are increasingly putting resources into securing domestic chip production.