Semiconductor manufacturing is Prime Minister Narendra Modi's key business agenda, for which his government rolled out a $10 billion scheme in December 2021.
BC Jindal Group, a major manufacturer of packaging and labelling products, is likely to be the new partner in Tower Semiconductors proposal, , partnership, jindal group, Tower Semiconductors, Next Orbit Ventures
Tower Semiconductor Proposal: The company, however, is also facing legal action from its erstwhile joint venture partner Abu Dhabi-based Next Orbit Ventures which is considering suing Tower Semiconductors for going ahead and submitting a fresh proposal with a new partner.
The company, however, is also facing legal action from its erstwhile joint venture partner Abu Dhabi-based Next Orbit Ventures which is considering suing Tower Semiconductors for going ahead and submitting a fresh proposal with a new partner.
This marks a second attempt by the Israeli company to enter the semiconductor space in India after an earlier JV agreement with ISMC to set up a chip fabrication unit with a proposed investment of $3 billion failed to fructify.