February 13, 2024 /SemiMedia/ -- According to reports, Israeli wafer foundry Tower submitted a proposal to the Indian government to build a chip manufacturing plant costing $8 billion.

Reports say Tower is seeking government incentives for its plans and hopes to produce 65nm and 40nm chips in India.

Chipmaking is a key part of Prime Minister Narendra Modi's business agenda, but initial proposals to provide $10 billion in incentives for the industry have floundered, with some proposals shelved or canceled.