India launches $13 billion program to boost domestic semiconductor manufacturing
The Indian government has launched a program worth over $13 billion to boost the semiconductor industry in the country, aiming to reduce reliance on imports and transform India into a global technology hub. The program focuses on attracting foreign investment, establishing chip manufacturing plants, and increasing domestic production. This effort is part of its broader initiative to expand the local semiconductor ecosystem and grow the semiconductor market from approximately $45 to $50 billion in 2024 and 2025 to between $100 and $110 billion by 2030.
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