India Plans New $11 Billion Fund to Support Local Chipmaking (1)

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.

Prime Minister Narendra Modi is trying to accelerate India’s chip campaign, which is in early stages with just a handful of major ...