Ashwini Vaishnaw, IT Minister, welcomes Intel to India to make semiconductor chips

Intel Foundry Services Chairman Randhir Thakur took to Twitter to praise the government's efforts to implement specific plans and incentives to turn India into a semiconductor and electronics manufacturing hub. While neither Thakur nor Intel officially announced any plans to start manufacturing chips in India, IT Minister Ashwini Vaishnaw "welcomed" Intel to India.

"Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging & logistics," said Thakur. Responding to this, the IT minister said, "Intel - welcome to India."

Speaking of the "plan", the government recently approved a budget of Rs 76,000 crore to design and manufacture semiconductor chips in India.

Announcing this, Mr Vaishnaw had said, "Prime Minister Narendra Modi has taken a historic decision in the field of electronics in which the development of a complete ecosystem could take place within the country including design, fabrication, testing and packaging. It would take an investment of Rs 76,000 crore. Today we have reached USD75 billion in electronics manufacturing in 7 years. With the pace that we are moving at, in the next 6 years, we will reach USD300 billion in electronics manufacturing."