India Approves $10 Billion Plan To Lure Semiconductor and Display Makers

India has approved a $10 billion incentive plan to attract semiconductor fabricators and display manufacturers, its technology minister said on Wednesday, as part of efforts to establish itself as a global electronics production hub. From a report:

Israel’s Tower Semiconductor, Apple’s contract manufacturer Foxconn and a Singapore-based consortium have all shown interest in setting up semiconductor fabrication units in India, a government source told Reuters. New Delhi also approved a design linked incentive (DLI) plan to encourage 100 local companies in semiconductor design for integrated circuits and chipsets, technology minister Ashwini Vaishnaw told a news briefing.