India in talks with Intel and TSMC to set up semiconductor plants

India is in talks with global chipmakers Intel, GlobalFoundries, and Taiwan Semiconductor Manufacturing Co. about setting up local operations, part of efforts to center more high-tech manufacturing in the country.
 

The government late last year unveiled a $10 billion incentives plan, offering to cover as much as half of a project’s cost, to lure display and semiconductor fabricators to set up base in India. The country has set itself the ambitious goal of emulating China and becoming the electronics factory of the world.

“Most of the pitches to these big companies, I’m making myself,” Rajeev Chandrasekhar, a former Intel engineer and current minister of state for technology and entrepreneurship, told Bloomberg News in an interview on Monday. “We’re meeting the CEOs, talking to them, making presentations.”