Israel to Announce Major Semiconductor Investment in India

Israeli Ambassador to India, Reuven Azar, anticipates a significant announcement in the semiconductor sector, likely involving Tower Semiconductor's billion-dollar investment. India is fostering a favorable environment for semiconductor manufacturing, with states offering incentives. Israel also aims to strengthen infrastructure cooperation, planning to invest USD 35 billion.

By Naveen Kapoor – Reuven Azar, Israel's newly appointed Ambassador to India, has hinted at an imminent, significant announcement from Israel, particularly in the semiconductor sector.

In an exclusive interview with ANI, Ambassador Azar mentioned, "We expect big news when it comes to semiconductors in the coming days. We have something in the pipeline." While refraining from divulging specific details, reports indicate that Tower Semiconductor, an Israeli firm specializing in manufacturing integrated circuits, is poised to invest billions in India.

Although no official confirmations have been made, Ambassador Azar remarked, "I don't want to put the carriage in front of horses; there are some private sector entities initiating this. They will announce it. The trend is clear; we are going to see a lot of movement in that area."

India has been creating a conducive atmosphere for semiconductor manufacturing, aiming to become a global leader in the field. Prime Minister Narendra Modi has expressed confidence in India's potential to become a semiconductor hub. The nation is actively pursuing partnerships with countries like the United States, Japan, South Korea, and Germany in various semiconductor production aspects.

Several Indian states, including Uttar Pradesh, Maharashtra, and Odisha, are competing to attract global semiconductor companies by offering substantial incentives. Notably, semiconductor facilities are already emerging in states such as Gujarat, Assam, and Maharashtra. In a bid to attract more manufacturers and investors, Uttar Pradesh will host the Semicon India event this month.

Beyond semiconductors, Israel is also keen on enhancing infrastructure cooperation with India. Ambassador Azar revealed plans for Israel to invest USD 35 billion in infrastructure projects, including a new metro system in Tel Aviv and a new airport. Israel seeks collaboration with Indian infrastructure companies for these projects.

"We have incredible defense cooperation. Now, we aim to attract Indian infrastructure companies as well. We are planning to invest USD 35 billion in infrastructure projects, including a new metro system in the Tel Aviv area and a new airport. India has already built 1000 kilometers of metro and is the third largest in this regard. We need Indian companies and workforce in Israel," stated Ambassador Azar. He also underscored the special bond between India and Israel, highlighting the strong personal relationship between Prime Minister Narendra Modi and Israeli Prime Minister Benjamin Netanyahu.

(With inputs from agencies.)