A planned $3 billion semiconductor facility in India by chip consortium ISMC that counted Israeli chipmaker Tower as a tech partner has been stalled due to the company's ongoing takeover by Intel, three sources said, dashing India's chip making plans.
The challenges faced by the companies deal a major setback to Prime Minister Narendra Modi, who has made chipmaking a top priority as he wants to "usher in a new era in electronics manufacturing" by luring global companies.
Talking about India's semiconductor ambitions, India's deputy IT minister Rajeev Chandrasekhar told Reuters in a May 19 interview ISMC "could not proceed" due to Intel acquiring Tower, and IGSS "wanted to re-submit " for incentives. The "two of them had to drop out," he said, without elaborating. Most of the world's chip output is limited to a few countries like Taiwan, and India is a late entrant. Amid much fanfare, in September, the Vedanta-Foxconn JV announced its chipmaking plans in Gujarat. Modi called the $19.5 billion plan "an important step" in boosting India's chipmaking ambitions.
Deputy IT minister Chandrasekhar told Reuters during the May 19 interview the Vedanta-Foxconn JV was "struggling currently to tie up with a technology partner."In a statement, Vedanta-Foxconn JV CEO, David Reed, said they have an agreement with a technology partner to transfer technology with licenses, but declined to comment further.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Montauk’s New Clubstaurant Burns Down a Day Before OpeningMaison Close, a new restaurant and nightclub in Montauk, burned to the ground on Thursday evening. (via EaterNY)
Read more »
Jerusalem’s redesigned Tower of David museum opens after 3-year renovationJerusalem's iconic citadel has opened its revamped museum after a three-year, $50 million makeover that included a restoration of its signature minaret.
Read more »
Jerusalem's redesigned Tower of David museum opens after 3-year renovationJerusalem’s iconic citadel has opened its revamped museum after a three-year, $50 million makeover that included a restoration of its signature minaret. The museum launched its overhaul in the midst of the 2020 coronavirus pandemic, when foreign tourists could not enter Israel and visitor numbers plummeted. The tower, an ancient fortress on the western edge of the Old City, contains remnants of successive fortifications built one atop the other dating back over two millennia. Today, the former castle serves as a museum dedicated to the city’s 3,000-year history. It is a daunting task, and in a city of dueling narratives, the museum veers toward the Israeli perspective.
Read more »
Coronado Lifeguard Tower, North Beach Shorelines Re-OpenedThe Coronado Lifeguard Tower and North Beach shorelines are now open after recent water quality samples met state health standards, the county Department of Environmental Health and Quality announced Tuesday.
Read more »
Design firm plans to move Dallas studio into Uber’s mostly vacant Deep Ellum towerDesign firm DLR Group is moving its Dallas office to the mostly-vacant Epic II tower on the east side of downtown. The building was originally planned for a...
Read more »
Once Mighty Intel Struggles to Escape ‘Mud Hole’Rivals such as Nvidia have left the chip company far behind. CEO Pat Gelsinger aims to reverse firm’s fortunes by vastly expanding its factories.
Read more »