India pledges $20 billion to boost chips and smartphones as Modi pushes for an Indian mobile brand
TL;DR
India committed $19.7B total: $13.3B for semiconductors and $6.5B for smartphones. Modi wants an Indian mobile brand to rival Chinese dominance.
India pledged 1.9 trillion rupees ($19.7 billion) in combined incentives for domestic chip and smartphone production on Wednesday. The cabinet approved 1.28 trillion rupees ($13.3 billion) for semiconductors, covering chip design, machine fabrication, research and development, and talent creation, and a separate 625 billion rupees ($6.5 billion) for mobile phone manufacturing. “The Prime Minister has given us clear guidance that we must create an Indian mobile brand,” Technology Minister Ashwini Vaishnaw told reporters in New Delhi.
The new programme builds on India’s $10 billion 2021 initiative, which offered to cover half the cost of setting up semiconductor projects. That effort drew Micron Technology and the Tata Group to western Gujarat state. India’s first chip production has already begun in Gujarat, and six semiconductor projects worth...
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