50,000 Cr Chip Plant To Be Built By IBM, STMicro In India

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Bangalore: India is all set to get its first chip making facility as two of the biggest global IT giants- IBM and STMicroelectronics are in serious talks with the government on an investment of over 50,000 crore, reports TOI.

According to the report, both STMicroelectronics, who is one of Europe’s largest chipmakers and semiconductor players, and IBM have decided to cash-in an initial investment of 25,000 crore each. The Indian government, on the other hand, is hoping to not just get foreign exchange but also to go for import substitution.

The report also stated that the locations for the chip making facilities have not been decided yet. But, there are some unconfirmed speculations of setting up the facility near Greater Noida, while another proposed site is in Gujarat. India’s IT capital, Bangalore comes in as a third option.

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