India is reportedly planning a new USD 11bln fund to support local chip making, Bloomberg reports

India is reportedly planning a new USD 11bln fund to support local chip making, Bloomberg reports.

India's plan to establish an USD 11 billion fund for local chip manufacturing signals a significant push to bolster its technology sector and reduce dependence on foreign semiconductors. This move can influence global supply chains and might escalate competition with countries like the U.S. and China, potentially impacting related sectors such as metals and forex, especially with local currencies and materials linked to tech production.