India is looking to attract more ICT manufacturers to invest in India, hoping to fill the gap at the local ICT supply chain, and has been accepting letter of intent for investment from semiconductor companies since the end of 2020.

Head of India Electronics and Semiconductor Association (IESA) Rajeev Khushu pointed out that over 20 companies from the wafer foundry, IC design, panel and panel-related semiconductor industries have already submitted their documents for investment, according to a report by The Hindu Businessline.

India is planning to provide subsidies of US$1 billion to each of the chosen companies - up to three firms in toital - from the wafer foundry industry, the report said.

A report from Economic Times also noted that Khushu believes the subsidies are far lower than those offered by China, the US and South Korea, but India has advantages in population, low median age and accelerating demand for consumer and automotive electronics, and has an enormous base of IC design talent.

By DIGITIMES