<p>New Delhi: Israel's Tower Semiconductor and Adani Group will invest 839.47 billion rupees ($10 billion) for a semiconductor project in India's western state of Maharashtra, its chief minister said in a post on X on Thursday.</p><p>India has taken steps to encourage global companies to set up their manufacturing units in the country, with Prime Minister Narendra Modi aiming to make the country a chipmaker for the world despite initial setbacks.</p><p>Foxconn withdrew in July last year from a $19.5 billion semiconductor joint venture with Indian conglomerate Vedanta, and plans by ISMC, a venture between Abu Dhabi-based Next Orbit Ventures and Tower Semiconductor, to invest $3 billion in India, have been stalled.</p>.India to extend sugar export ban to boost local supplies, ethanol output: Report.<p>Still, India expects its semiconductor market to be worth $63 billion by 2026.</p><p>Semiconductor manufacturing marks the latest foray for billionaire Gautam Adani, whose conglomerate has businesses across ports, power utilities, transmission and coal trading.</p><p>The $10 billion semiconductor plant in Maharashtra will initially have a capacity of 40,000 wafers, the state's deputy chief minister Devendra Fadnavis said in a post on X.</p><p>Chief Minister Ehnath Shinde said in a social media post that projects worth 1.17 trillion rupees were approved on Thursday, which will create 29,000 jobs in the state.</p><p>Two new electric vehicle manufacturing units will also be set up in the state, with Skoda-Volkswagen investing 150 billion rupees for its plant to produce electric vehicles and hybrids.</p><p>Toyota-Kirloskar will dole out 212.73 billion-rupees to manufacture hybrid and electric vehicles at its plant in the state.</p><p>Adani group, Tower Semiconductor, Skoda-Volkswagen and Toyota-Kirloskar did not immediately respond to a request for comment from Reuters.</p><p><em>($1=83.9020 Indian rupees)</em> </p>
<p>New Delhi: Israel's Tower Semiconductor and Adani Group will invest 839.47 billion rupees ($10 billion) for a semiconductor project in India's western state of Maharashtra, its chief minister said in a post on X on Thursday.</p><p>India has taken steps to encourage global companies to set up their manufacturing units in the country, with Prime Minister Narendra Modi aiming to make the country a chipmaker for the world despite initial setbacks.</p><p>Foxconn withdrew in July last year from a $19.5 billion semiconductor joint venture with Indian conglomerate Vedanta, and plans by ISMC, a venture between Abu Dhabi-based Next Orbit Ventures and Tower Semiconductor, to invest $3 billion in India, have been stalled.</p>.India to extend sugar export ban to boost local supplies, ethanol output: Report.<p>Still, India expects its semiconductor market to be worth $63 billion by 2026.</p><p>Semiconductor manufacturing marks the latest foray for billionaire Gautam Adani, whose conglomerate has businesses across ports, power utilities, transmission and coal trading.</p><p>The $10 billion semiconductor plant in Maharashtra will initially have a capacity of 40,000 wafers, the state's deputy chief minister Devendra Fadnavis said in a post on X.</p><p>Chief Minister Ehnath Shinde said in a social media post that projects worth 1.17 trillion rupees were approved on Thursday, which will create 29,000 jobs in the state.</p><p>Two new electric vehicle manufacturing units will also be set up in the state, with Skoda-Volkswagen investing 150 billion rupees for its plant to produce electric vehicles and hybrids.</p><p>Toyota-Kirloskar will dole out 212.73 billion-rupees to manufacture hybrid and electric vehicles at its plant in the state.</p><p>Adani group, Tower Semiconductor, Skoda-Volkswagen and Toyota-Kirloskar did not immediately respond to a request for comment from Reuters.</p><p><em>($1=83.9020 Indian rupees)</em> </p>