India appears set to get its first chip-making facility with at least two global players – IBM and STMicroelectronics – in advanced stages of talks with the government for an investment of over Rs 50,000 crore.
NEW DELHI: India appears set to get its first chip-making facility with at least two global players - IBM and STMicroelectronics - in advanced stages of talks with the government for an investment of over Rs 50,000 crore.
Both STMicroelectronics, Europe's largest chipmaker semiconductor player, and the consortium comprising IBM have indicated that they would initially invest over Rs 25,000 crore each, at least two government officers familiar with the development told TOI. Through the investment the government is hoping to not just get valuable foreign exchange but also go for import substitution.
The location has not been finalized, but top government sources said that one of the investor consortiums has indicated that it wants to set up the facility near Greater Noida, while another one has been proposed in Gujarat. A third option is near Bangalore where an information technology investment region ( ITIR) spread over 42 square kilometers is being set up.
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