India plans new $11 billion fund to support local chipmaking

Group 1 - India plans to launch a fund exceeding 1 trillion rupees ($10.8 billion) to enhance domestic chipmaking capabilities, with potential subsidies for chip design, manufacturing equipment, and supply chain development expected in two to three months [6][5][1] - The initiative builds on a previous $10 billion incentive program from 2021, which covered half the costs of establishing chip projects, attracting companies like Micron Technology Inc. to set up facilities in India [5][6][1] - India's strategy aims to develop chipmaking capabilities comparable to leading producers such as Taiwan, South Korea, and the US by 2032, as stated by the federal technology minister [5][6][1] Group 2 - The new fund is part of a broader effort to position India as a global manufacturing hub for semiconductors, similar to the $52 billion US Chips and Science Act [6][1] - Major companies, including Tata Group and Foxconn Technology Group, are already investing in semiconductor projects in India, indicating a growing interest in the region [5][6][1] - India's early projects are focused on less sophisticated chips, but there are ambitions to advance to more complex semiconductor technologies in the future [5][6][1]