Israel set to make major investment in India’s semiconductor industry
In addition to the semiconductor investment Israel is also planning large scale infrastructure projects worth $35 billion.
According to Reuven Azar, Israel’s newly appointed Ambassador to India, the country is gearing up to invest in India’s semiconductor industry. In an interview with the news agency ANI, the Ambassador referred to this development as “big news,” suggesting that an announcement regarding the semiconductor sector is imminent.
While specific details were not disclosed Ambassador Azar indicated that a private Israeli company is expected to spearhead this investment. “We anticipate news related to semiconductors shortly,” he stated adding that further information will be provided by the companies involved.
Reports suggest that Tower Semiconductor an Israeli company known for integrated circuit manufacturing may be the entity planning to invest billions of dollars in India. However, no official confirmation has been made regarding this speculation.
The recent investment announcement comes soon after India’s agreement, with Singapore on a semiconductor partnership during Prime Minister Narendra Modis visit. India has been actively pursuing its semiconductor manufacturing capabilities through initiatives such as the India Semiconductor Mission launched in 2021 with a substantial ₹76,000 crore chip incentive program.
In addition to the semiconductor investment Israel is also planning large scale infrastructure projects worth $35 billion. This includes the construction of a new metro system in Tel Aviv and the development of an airport. For these projects Israel is seeking collaboration with Indian infrastructure companies.
When asked about Israels preference for India over China in terms of investments Ambassador Azar highlighted the unique bond between India and Israel. He noted their shared history of facing invasions and their commitment to freedom. Additionally he emphasized the strong relationship between Prime Minister Narendra Modi and Israeli Prime Minister Benjamin Netanyahu, which has played a role in further strengthening the ties between the two nations.
This news about investments showcases the increasing collaboration, between India and Israel and indicates a bright outlook, for Indias semiconductor sector in its pursuit of becoming a worldwide manufacturing center.
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