India allocates an additional $13.3 billion fund to boost chip manufacturing development

```htmlGolden Ten Data reported on July 15 that India’s Minister of Electronics and Information Technology announced on Wednesday that India promises to add 1.28 trillion rupees (about 13.3 billion USD) in funding to boost the domestic chip manufacturing industry and advance its ambitious goal of becoming a global manufacturing hub. The plan will further build upon the 10 billion USD incentive program launched by India in 2021, which promised to cover half of the construction costs for semiconductor projects. Previous efforts helped India initiate the development of its chip industry, attracting companies such as US memory chip manufacturer Micron Technology and the Tata Group, whose business spans areas from salt manufacturing to software, to Gujarat province in the west. Prime Minister Modi is striving to strengthen India’s chip industry strategy. The plan is still in its early stages, with only a handful of large-scale projects underway. India hopes to leverage its engineering and design talent, as well as a range of subsidy policies, to attract major chip manufacturers to settle in the country.```