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BENGALURU (Reuters) – Israel’s Tower Semiconductor has submitted a proposal to the Indian government to build an $8 billion chip-making facility in the South Asian nation, national daily Indian Express reported on Sunday.
Tower, seeking government incentives for its plan, wants to manufacture 65 nanometer and 40 nanometer 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 trade agenda, but initial bids offering $10 billion in incentives to the industry have failed, with some proposals stalled or cancelled.
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(Reporting by Munsif Vengatil in Bengaluru; Editing by Sonali Paulmus)
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