Two chip projects worth US$414mil approved

Economic transformation: Modi at an event in India. He says the new project will boost the country’s efforts to be a leader in the global semiconductor value chain by strengthening its technological self-reliance. — AFP

NEW DELHI: India says it has approved two new semiconductor projects worth US$414mil, as the government accelerates efforts to establish the country as a global electronics powerhouse.

The projects – an LED display facility and a semiconductor packaging unit –were cleared late Monday, taking the number of facilities in the country to 12, with a total investment of about US$17.2bil.