India, Taiwan May Ink Mega Deal to Set Up $7.5 bn Chip Manufacturing Plant. Here's Why it's Global Rescue
In order to address the global semiconductor chip shortage issue, India is in talks with Taiwan. This could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors. New Delhi and Taipei have met in recent weeks to discuss a deal that would bring a chip plant worth an estimated $7.5 billion to India to supply everything from 5G devices to electric cars World leaders and executives at multinational corporations have been worried about the global scarcity of semiconductors, which has hit manufacturing and sales in numerous countries and no early solution is in sight. WHAT CAUSED THE SEMICONDUCTOR SHORTAGE? Semiconductors, or chips, have properties that are somewhere between conductors and insulators. Usually made of silicon, they have been used to power a wide range of devices - cars, laptops, smartphones, household appliances, and gaming consoles. These tiny objects perform a host of functions such as powering displays an