IBM & STMicroelectronics To Invest In India

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India require more than 15 chipmaker's to invest in our home soil. The total cost is considered to be US$ 8 Billion Dollars. India is looking to create a local manufacturing and never depend on import. India require about US$ 400 Billion of wafer technology to feed the smart phones, tabs, etc. So the government is planning to overcome it with internal investment in India, better going for import.

Imports can be increased to US$ 50 Billion Dollars within the period of 2020. India require more than 15 companies to invest here to keep up with the demand. For this the government is providing subsidy on capital invested, tax free and interest free funds for 10 years.

2 Conglomerates are interested in this Wafer Technology. India's Jaiprakash Associates clubbed with Israel's Tower-Jazz with technical partner IBM Technology. There investment is considered to Rs. 262 Cr and the place will be in Delhi. Another investment will be in Gujarat. Hindustan Semiconductor Manufacturing Corp. and Silterra of Malaysia will be clubbed in the project with Active partnership of STMicroelectronics. This will supply to existing demand of Wafer Technology.

CAT 2013; Yahoo News

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