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India has received many types of technology from Israel. This includes technologies ranging from weapons to radar, communications and agriculture. Now another new chapter is going to be added to this friendship and an Israeli company is going to give that gift to India, which India has been trying to bring here for a long time.
An Israeli company can set up the first semiconductor factory in India.
A decision on the proposal of Israeli semiconductor company Tower is to be taken in the cabinet meeting on Thursday. If this proposal is approved, it will be the first semiconductor manufacturing unit in India. With this, India will be able to challenge China in chip making. India will get this gift much before the investment from Taiwan.
There will be an investment of Rs 83,000 crore
An investment of about 9 to 10 billion dollars (about Rs 83,000 crore) is expected on this project. Out of this, the Central Government will give ‘Indian Semiconductor Mission’ (ISM) subsidy equal to 50 percent amount. Whereas state governments will also give additional subsidy of 15-25 percent for this.
Taiwan’s plan also approved
Apart from this, the cabinet can also approve the joint venture plan of India’s HCL Group and Taiwan’s Foxconn Group. Both these companies want to set up an ‘Outsourced Assembly and Testing Unit’ (OSAT) in India. Whereas in the cabinet meeting today, work can also be done on Tata Group’s plan to make semiconductors. Quoting sources having information about this, ET has reported that the government has 4 to 5 proposals regarding this, which can be discussed in the cabinet meeting.
India has been trying to make semiconductors within the country for a long time. In this matter, India’s aim is to become self-reliant as well as to export. Not only this, the Government of India has also allocated a huge amount for this under the PLI scheme.
