New Delhi, India: Tower Semiconductor, a leading Israeli chipmaker, has unveiled a bold proposal to build an $8 billion chip manufacturing facility in India. This move comes as a major boost to Prime Minister Narendra Modi’s ambitious initiative to establish a domestic semiconductor industry, following the launch of a $10 billion support scheme in December 2021.
The proposed facility, aiming to produce 65 and 40 nanometer chips, comes after earlier discussions between Tower Semiconductor CEO and Indian government officials. Tower Semiconductor’s interest aligns with Prime Minister Modi’s vision of reducing India’s dependence on foreign chip imports.
However, a previous collaboration with the International Semiconductor Consortium (ISMC) had been put on hold due to Intel’s proposed acquisition of Tower Semiconductor. After the deal fell through, India has renewed talks with Tower Semiconductor, recognizing its potential as a valuable partner.
Tower Semiconductor’s strengths lie in its expertise as a leading foundry for high-value analog chips, catering to diverse sectors like automotive, medical, and aerospace. Its established global presence and strong revenue make it an attractive partner for India’s semiconductor ambitions.
This proposed plant adds to the momentum gained by Micron Technology’s $825 million investment in an assembly and test facility in Gujarat. With Micron’s first chip in India expected by December 2024, India’s position as a semiconductor player is rapidly gaining ground.
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