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The International consortium ISMC, supported by Abu Dhabi-based Next Orbit and Tower Semiconductor, had previously withdrawn its proposal due to the pending merger.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
Auto & Auto Components
BYD India to showcase globally acclaimed models at Bharat Mobility Expo 2025
Plans to display new models including internationally successful models and BYD’s India line-up. BYD’s participation in Bharat Mobility and the upcoming launches of the new models is a testament..
Read moreElectrical & Electronics
Renewable energy sector to generate 43 mn jobs in India by 2050: CMD, IREDA
While delivering the Visionary Talk hosted by the 39th Indian Engineering Congress at Kolkata on December 20, 2024, Pradip Kumar Das spoke about the critical need for talent to drive the renewable e..
Read moreMachine Tools & Accessories
Purvi Products transforms machine tools
The industry is transitioning from traditional tools to automated, high-precision systems.
Read moreRelated Products
78 Series Din Rail Terminal Blocks
ELECTRICAL & ELECTRONIC EQUIPMENT
Werner Electric Private Limited offers a wide range of 78 series din rail terminal blocks.
Mig Welding Torches
ELECTRICAL & ELECTRONIC EQUIPMENT
ATE Welding Engineering Robotics & Automation offers MIG welding torches. Read more
Puma Lift Electric Stacker
ELECTRICAL & ELECTRONIC EQUIPMENT
Puma Lift Trucks Pvt Ltd offers a wide range of puma lift
electric stacker.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
