India woos chipmakers with $500bn market by 2030, new incentives soon | Today News

India is intensifying its efforts to attract semiconductor manufacturers by projecting a $500 billion market by 2030 and introducing new incentives for investors. The government aims to position India as a global hub for semiconductor production, crucial for various high-tech industries. The new incentives are designed to reduce entry barriers and attract both domestic and international players to the semiconductor sector. This strategic push is part of a larger plan to bolster India’s technological infrastructure and reduce reliance on foreign semiconductor supplies, thereby enhancing the country’s competitiveness in the global tech landscape.