According to media reports, Indian diplomat Gourangalal Das said recently that India will spend $30 billion to overhaul the technology industry and establish a chip supply chain.

Specifically, India seeks to introduce more "mature" rather than top-of-the-line chips, including the use of 65nm to 28nm chips, which are widely used in communications chips, display drivers, electronics and control chips for electric vehicles.

The main goal of India's $30 billion initiative is to establish a complete supply chain ecosystem. About $10 billion of this will be used to build two chip factories and two display factories. India also plans to provide about $7 billion to the electronics industry, including companies such as Foxconn, as well as fellow iPhone assembler PEGATRON. The rest of the funds for "telecommunications, networking, solar photovoltaic, advanced chemical and battery and other ancillary services.

India's chip demand is growing nearly twice as fast as the global rate each year, according to Das, 2030, India's semiconductor demand will reach $ 111 billion, when the proportion of global chip demand will exceed 10%, India needs to ensure that domestic demand for semiconductors will not be subject to the elusive supply chain.

In recent years, India has announced several investment plans to develop its semiconductor industry, such as a $10 billion incentive program approved by the Indian government at the end of 2021 to attract investment from semiconductor and display manufacturers.

Currently, India's first fab has been finalized. As reported by Reuters earlier this year in May, the government of the southern Indian state of Karnataka said that the international semiconductor consortium ISMC will invest $3 billion in the local establishment of semiconductor manufacturing fabs.