According to a story published in the national daily Indian Express on Sunday, Israel’s Tower Semiconductor has proposed to the Indian government to construct a $8 billion chip manufacturing facility in the South Asian country.
Tower, seeking government incentives for its plan, is looking to manufacture 65 nanometre and 40 nanometre chips in India, the report said.
The company and India’s IT ministry did not immediately respond to requests for comment.
Chip manufacturing is a key plank of Modi’s business agenda, but initial bids to offer $10 billion in incentives to the industry have floundered, with some proposals stalled or cancelled.
