India approves $13.3bn chip scheme, EU approves German grants

The EU and India are the latest governments to approve state funding for their domestic chip industries and gain a slice of the still-booming semiconductor market.

India’s central government approved a ₹1.28 trillion ($13.3 billion) investment in its Semicon chip programme on Wednesday, expanding the design and manufacturing scheme that began in 2021.

Following the approval of 12 manufacturing sites, including from Micron and local companies such as CG Semi and Kaynes, and 24 chip design projects, Semicon 2.0 will focus on developing IP and chip designs.