India plans new ₹1 lakh crore fund to support local chipmaking

India plans to unveil a more than 1 trillion rupee ($10.8 billion) fund aimed at bolstering domestic chipmaking, advancing its ambitious bid to become a global manufacturing hub.

The fund, which will provide subsidies for chip design projects, manufacturing equipment and supply chain development, may be launched in two to three months, people familiar with the matter said, asking not to be named as the plan isn’t yet public. The plan is still under discussion and may change.