India has chip dreams. What it needs is a strategy
Aiming for self-reliance is a fool’s errand. The country should be looking to invest in areas where it has a comparative advantage
Add BT as a preferred source
ACROSS the world, countries are spending wagonloads of taxpayer money to develop or support their semiconductor industries. This pipeline of cash has yielded some successes and some failures; the difference is usually down to how strategically the money has been spent.
The Indian government, which has also loosened its purse strings, needs to figure out a strategy – and soon.
Under Prime Minister Narendra Modi, federal budgets have generally been pretty stingy with subsidies. But US$11 billion has already been set aside, and largely allocated, to various chip-related projects. News emerged last week that another US$5 billion to US$10 billion might follow.
TRENDING NOW
A ‘shadow bank’ hiding in Singapore’s Little India casts light on financial services gap
UOB CEO’s youngest child Grant Wee turns burnout into a wellness business
Can Seatrium build on its robust H1 earnings? UOBKH and DBS analysts have divided views
Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart
