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Chip manufacturing is a key plank of Modi's business agenda, but initial bids to offer $10 billion in incentives to the industry have floundered, with some proposals stalled or cancelled.
Israel's Tower Semiconductor proposes an $8 billion chipmaking plant in India, targeting government incentives. The facility aims to produce 65nm and 40nm chips. While details from the company and India's IT ministry are awaited, chip manufacturing is a priority in Modi's economic strategy. Previous attempts to offer $10 billion incentives faced challenges, with some proposals stalled or scrapped.