Israel's Tower Semiconductor is seeking advice from the Indian government on establishing a fabrication facility in the country by the end of the financial year, according to sources familiar with the matter. Chief executive officer Russell C Ellwanger and other senior executives from the Israeli chipmaker recently met officials at the ministry of electronics and information technology (MeitY) and the India Semiconductor Mission. This marks the company's second attempt to enter India's semiconductor space, following the failure of an earlier joint venture agreement with ISMC (International Semiconductor Consortium) to set up a chip fabrication unit with a proposed investment of $3 billion. The company is eager to establish a fabrication unit in India due to the potential demand for its products. Tower Semiconductor had assisted the Indian government in planning the 180 nm chip plant at the Semi-Conductor Laboratory in Mohali. Despite previous setbacks, the company is hopeful and open to entering the chip fabrication market in India independently if a suitable partner is not found, as stated by an IT ministry official familiar with the situation. Tower Semiconductor declined to comment on the developments, emphasising that only formal announcements made by the company should be referred to.

Source: Indiatimes