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India is looking to capitalise on the shift away from China as companies diversify their global supply chains, before the window of opportunity closes.
Investment in the domestic semiconductor space will increase at least five times to Rs 7.5 lakh crore, making India one of the top five semiconductor manufacturing nations by 2028, according to Ashwini Vaishnaw, union minister for electronics and IT, communications and railways.
Despite the regulators insistence on adhering to prescribed norms, many payment firms seem to be lax in conducting bank-grade KYCs. This and more in todays ETtech Morning Dispatch.
Tata Group: India's entry into semiconductor manufacturing will significantly de-risk global supply chains and will make India a very important player in the global semiconductor industry, Tatas said.
India has ambitions to become a major chip hub alongside the likes of the U.S. and Taiwan and has been courting foreign firms to set up operations locally.