Government Approves $15 Billion Boost for Semiconductor Industry

  • The Indian government has approved a significant investment of over $15 billion in the domestic semiconductor industry.
  • This initiative aims to strengthen India's technological capabilities and reduce reliance on chip imports.
  • Three companies have received approval to set up semiconductor fabrication units (fabs) in India.
  • These fabs are expected to create jobs, attract further investment, and contribute to the development of a robust semiconductor ecosystem.
  • This move signifies a major step towards India's goal of achieving self-sufficiency in chip production.

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