(Bloomberg) -- India is wooing semiconductor and display makers to the country by increasing financial incentives for setting up manufacturing units under a $10 billion plan.Most Read from BloombergBank of England Says Paper Banknotes Only Good for One More WeekThe Great Bond Bubble Is ‘Poof, Gone’ in Worst Year Since 1949‘Read Putin More Often and Carefully,’ Lavrov Tells the WorldUK Market Plunge Sparks Talk of Emergency BOE Rate HikePrime Minister Narendra Modi’s administration will bear half
(Bloomberg) -- Hon Hai Precision Industry Co., the assembler of most of the world’s iPhones, plans to build a chipmaking facility in India with a local partner to tap rising demand for semiconductors and the government’s support for such projects.Most Read from BloombergJeff Bezos Loses Spot as World’s Second Richest Person to Gautam AdaniPatagonia Billionaire Who Gave Up Company Skirts $700 Million Tax HitGermany Tightens Control Over Industry With Russian Oil GrabPutin Acknowledges Xi’s ‘Conce
NEW DELHI (Reuters) -Vedanta Ltd and Taiwan's Foxconn will invest $19.5 billion under pacts signed on Tuesday to set up semiconductor and display production plants in Gujarat, the home state of Indian Prime Minister Narendra Modi. Reuters was first to report on Monday that the joint venture obtained subsidies including on capital expenditure and electricity from Gujarat to set up units near the western state's largest city, Ahmedabad. The showpiece investment of 1.54 trillion rupees, which Gujarat said was the largest ever by any group in an Indian state, comes ahead of key local elections in the state where Modi's ruling group is facing a tough challenge from opposition parties.