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In 2023, India showcased significant potential in its pursuit of becoming a manufacturing powerhouse, with numerous large-scale projects either in the planning stages or already underway. The Production-Linked Incentive (PLI) scheme, covering 14 sectors, proved to be a catalyst, attracting investments exceeding Rs 95,000 crore by September. Here are some noteworthy milestones in India's pursuit of local manufacturing in 2023, particularly in the cutting-edge fields of chips and telecommunications.

Computer chip maker Intel Corporation plans to lay off around 235 employees at its research and development facility in Folsom, Sacramento County over two weeks, as part of its ongoing efforts to cut

'Intel is working to accelerate its strategy while reducing costs through multiple initiatives, including some business and function-specific workplace reductions across the company,' the statement read.

Domestic Manufacturing: The government saw some large deals being finalised with companies across the globe in lucrative industries such as electronics, automobiles and semiconductor manufacturing.

The PLI scheme, approved by the Union cabinet in May with a budgetary outlay of ₹17,000 crore, covers laptops, tablets, all-in-one PCs, servers and ultra small form factor devices | Latest News India