Reliance Will Make Semiconductor Chips 😮😮
There are two main reasons for Reliance to go into chip manufacturing.
First is of course to meet the demand of the Indian Market, which currently imports 100% of its semiconductors from countries like China, Taiwan, and Korea.
Secondly, Reliance is dependent on these foreign chips for its own Telecom and electronic device business.
According to Reuters, Reliance has, for months, considered pumping in $300 Mn for a 30% stake in ISMC, a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor.
It is now in talks with other global players to set up a manufacturing unit in India.
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