India will spend $30 billion to overhaul its tech industry and build up a chip supply chain

India will spend $30 billion to overhaul its tech industry and build up a chip supply chain to ensure it is not "held hostage" to foreign providers.

The key aim of India's $30 billion initiative is to build a complete supply chain ecosystem. Around $10 billion of that sum will go toward two chip facilities and two display plants. About $7 billion is planned to be given to the electronics industry, including those manufacturing giants like Foxconn and fellow iPhone assembler Pegatron. The remaining $13 billion will be reserved for affiliated services like telecom, networking, solar photovoltaic, advanced chemistry and battery cells.

-- Nikkei Asia