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Tower Semiconductor from Israel has submitted a proposal to the Indian government to construct an $8 billion chip manufacturing facility in India, according to a report. The proposed facility aims to produce 65 nanometer and 40 nanometer chips, with Tower Semiconductor seeking government incentives to support its plan.
Despite requests for comment, neither Tower Semiconductor nor India's IT ministry have responded immediately to inquiries regarding the proposal.
Chip manufacturing holds significant importance in Prime Minister Modi's business agenda. However, previous attempts to offer $10 billion in incentives to the industry have faced challenges, with some proposals encountering delays or cancellations.
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