Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 7 (Xinhua)-- Intel will set up a semiconductor chip manufacturing plant in India, according to the Indian Minister of roads and Transport.

CTOnews.com reported that at the end of last year, the Indian government announced a $10 billion incentive scheme offering incentives of up to 50 per cent of project costs to attract display and semiconductor manufacturers to set up bases in India.

In addition, it emerged in April that India was in talks with chipmakers Intel, GlobalFoundries and TSMC to set up semiconductor plants locally.

It is worth mentioning that Tower Semiconductor, an Israeli chipmaker previously acquired by Intel for $5.4 billion, is also actively discussing with the government the establishment of a manufacturing plant in India.

In February this year, Intel announced the acquisition of Israeli chipmaker Tower Semiconductor for $5.4 billion to gain more specialized production capacity. The acquisition will strengthen Intel's position in the global foundry industry.

Analysts say the acquisition makes sense. Tower is a foundry of mature processes, and the sector is expected to be tight in the coming years.

Intel CEO Pat Gelsinger said that Intel and Tower's technology are complementary and that the wafer foundry market, currently worth $100 billion, is expected to grow sharply by 2030.

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