Schedule a Call Back
Israel-based Tower Semiconductor revives plans for Indian Chip Plant
Industry News- Oct 23,23
This development follows Intel's cancellation of its $5.4 billion acquisition plan for Tower Semiconductor in August due to regulatory challenges.
Israel-based chip manufacturing firm, Tower Semiconductor, has expressed renewed interest in India's chip incentive scheme and is contemplating the establishment of a semiconductor fabrication plant in the country, according to sources. This development follows Intel's cancellation of its $5.4 billion acquisition plan for Tower Semiconductor in August due to regulatory challenges.
If Tower Semiconductor's proposal materialises, it would mark the first instance of a semiconductor company with substantial fabrication expertise applying for India's $10 billion chip manufacturing initiative. This move could significantly bolster New Delhi's ambitions in the chipmaking sector.
In response to queries about Tower Semiconductor's revived interest, Rajeev Chandrasekhar, the Minister of State for Electronics and IT, revealed that the government has invited the company's CEO, Russel C Ellwanger, for discussions on potential collaboration in the chip domain. Chandrasekhar, who met with Ellwanger along with Israel's Ambassador to India, Naor Gilon, refrained from commenting on whether the company would apply under the chip manufacturing scheme.
Tower Semiconductor, renowned for its older technology specialising in analog chips used for tasks like signal amplification and power management in cell phones and other devices, had put its investment plans in India on hold during the pending merger. However, with the acquisition falling through, the company has reignited its interest in the chip incentive scheme, as stated by an anonymous senior government official.
Despite successfully attracting major players such as Micron Technology to establish a chip packaging plant in India, the country has yet to receive a viable application for a fabrication plant. While securing Micron's $825 million investment commitment for the packaging plant marked a significant achievement for India's chip ambitions, having a chip foundry would represent a substantial milestone and attract further investments in the sector.
The International consortium ISMC, supported by Abu Dhabi-based Next Orbit and Tower Semiconductor, had previously withdrawn its proposal due to the pending merger. Initially, the consortium had planned to establish a $3 billion semiconductor fab in Karnataka. The current situation between Israel and Palestine adds an additional layer of consideration for Tower Semiconductor in navigating its investment plans in India.
Source: Indian Express
Tower Semiconductor
India
New Delhi
Chipmaking Ambitions
Analog Chips
Regulatory Challenges
Investment Plans
Israel-India Collaboration
Related Stories
Policy Regulation
India’s Decarbonisation Journey: Turning Climate Challenge into Opportunity
While decarbonisation is increasingly becoming a prerequisite to access premium global markets, India's path to net-zero by 2070 is complex. However, with coordinated action, strategic investments, ..
Read moreElectrical & Electronics
Last chance: Secure C&I solar projects before costs escalate
India’s solar costs are set to rise. Tacklers Renewables urges firms to act now and secure commercial and industrial (C&I) projects before ALMM 2026 regulations take effect
Read moreRailways
Concord aims to position India as a global hub for advanced railway tech
In this interview, Gaurav Lath and Nitin Jain, Jt Managing Directors of Concord Control Systems, discuss factors driving demands for India’s safe, smart, and sustainable railway solutions.
Read moreRelated Products
Integrated Electric Gripper S Series
ELECTRICAL & ELECTRONIC EQUIPMENT
IBK Engineers Pvt Ltd offers a wide range of integrated electric gripper S series.
Geared Electric Motors
ELECTRICAL & ELECTRONIC EQUIPMENT
Delco Fans Pvt Ltd offers single phase capacitor run and three
phase geared Instrument motors, totally enclosed face/foot mounted.
“Kusam-Keco” Partial Discharge Acoustic Imager - Model - Km-pdai
ELECTRICAL & ELECTRONIC EQUIPMENT
‘Kusam-Meco’ has introduced a new “Partial Discharge Acoustic Imager Model KM-PDAI.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
