Exclusive: A billion for every chip-maker who 'makes in India,' sources say

FILE PHOTO: A woman visits a semiconductor device display at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. REUTERS/Aly Song/File Photo

NEW DELHI (Reuters) - India is offering more than $1 billion in cash to each semiconductor company that sets up manufacturing units in the country as it seeks to build on its smartphone assembly industry and strengthen its electronics supply chain, two officials said.

Prime Minister Narendra Modi's 'Make in India' drive has helped to turn India into the world's second-biggest mobile manufacturer after China. New Delhi believes it is time for chip companies to set up in the country.