{"id":1667,"date":"2023-10-23T18:09:28","date_gmt":"2023-10-23T12:39:28","guid":{"rendered":"https:\/\/asia.businessupturn.com\/?p=1667"},"modified":"2023-10-23T20:44:11","modified_gmt":"2023-10-23T15:14:11","slug":"israels-tower-semiconductor-eyes-indias-chip-incentive-scheme-reliance-industries-acquisition-in-the-works","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/asia\/middle-east-asia\/israel\/israels-tower-semiconductor-eyes-indias-chip-incentive-scheme-reliance-industries-acquisition-in-the-works\/1667\/","title":{"rendered":"Israel\u2019s Tower Semiconductor Eyes India\u2019s Chip Incentive Scheme; Reliance Industries Acquisition In The Works"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Israel-based chip manufacturing company, Tower Semiconductor has made a second bid to set up its semiconductor fabrication plant in India under the Modi government\u2019s\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=1808676\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Chip Incentive Scheme<\/span><\/a><span data-preserver-spaces=\"true\">, making it the first company to set up a manufacturing unit under India\u2019s $10 billion Chip Manufacturing scheme.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">There is growing demand for semiconductors in India in various sectors electronics, automotive, and telecommunications. Establishing semiconductor plants in India caters to the demand reducing the cost and dependency on importing the chips. Reducing dependency on exports also contributes to India\u2019s interests in self-dependency and strategic independence ensuring a perpetual supply by eliminating vulnerability to supply-chain disruptions.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The deal can bring in more investments in technology manufacture of cutting-edge technologies making India a prominent manufacturing hub in the global south.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Mukesh Ambani\u2019s Reliance Industries is reportedly considering acquiring Israel-based tower semiconductors making it a significant feat for Reliance Industries to step into semiconductor manufacturing. It will also boost India\u2019s awaited domestic semiconductor industry simultaneously generating employment in the country.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The deal also takes Indian-Israeli technological co-operation forward. The deal has currently taken a slow pace due to the Israel-Palestine tensions.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There is growing demand for semiconductors in India in various sectors electronics, automotive, and telecommunications. Establishing semiconductor plants in India caters to the demand reducing the cost and dependency on importing the chips.<\/p>\n","protected":false},"author":401,"featured_media":1668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[449,316,673,674],"class_list":["post-1667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-israel","tag-india","tag-israel","tag-mukesh-ambani","tag-reliance-industries"],"reading_time":"1 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/1667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/users\/401"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/comments?post=1667"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/1667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media\/1668"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media?parent=1667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/categories?post=1667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/tags?post=1667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}