India Clears $10Bln Plan to Attract Chip-makers From Taiwan As US-China Rivalry Intensifies – 15.12.2021, Sputnik International

The Indian cabinet, chaired by Prime Minister Narendra Modi, approved a comprehensive plan worth $10 billion on Wednesday, aiming to attract global manufacturers to set up semiconductor plants in the country. The Indian government will underwrite up to 50 percent of what it costs firms to set up a semiconductor plant.In addition, the government has announced up to $13 billion of production-linked incentives for related sectors such as advanced chemistry cell battery, auto components, telecom and networking products, solar PV modules, and white goods.Ashwini Vaishnaw, India’s minister of IT and electronics, emphasised the importance of having a secure source of…