February 11, BENGALURU (Reuters) - 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.
According to the article, Tower is looking to build 40 nanometer and 65 nanometer chips in India in order to obtain government subsidies for its plan.
Requests for comments were not immediately answered by the business or the Indian IT ministry.
Chip production is a critical plank of Modi's business program, but initial initiatives to offer $10 billion in incentives to the industry have floundered, with several projects postponed or withdrawn.
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