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India to Spend Big on Tech So It Isn’t a ‘Hostage’ – Nikkei

Country plans to increase local production of chips as well as displays, advanced chemicals, networking and telecom equipment, batteries and electronics


US senators have backed move setting to set up votes on a semiconductor bill to provide billions in subsidies and tax credits for the sector.
The US computer chips bill includes about $54 billion in subsidies for US chip companies, plus a four-year 25% tax credit to encourage companies to build plants in the US. File photo: Lim Huey Teng, Reuters.

India will pump $30 billion into an overhaul of its technology sector and build its own semiconductor supply chain to prevent being “held hostage” by foreign providers, Nikkei Asia reported, citing the country’s de facto ambassador to Taiwan Gourangalal Das.

It aims to collaborate with titans including Foxconn and Pegatron, which have plans to expand operations outside of China, Das told Nikkei Asia. The plan is to increase local production of items including chips, displays, and advanced chemicals, as well as batteries, electronics, networking and telecommunications equipment, the report said.

 

Read the full reportNikkei Asia

 

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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