India will pump $30 billion into an overhaul of its technology sector and build its own semiconductor supply chain to prevent being “held hostage” by foreign providers, Nikkei Asia reported, citing the country’s de facto ambassador to Taiwan Gourangalal Das.
It aims to collaborate with titans including Foxconn and Pegatron, which have plans to expand operations outside of China, Das told Nikkei Asia. The plan is to increase local production of items including chips, displays, and advanced chemicals, as well as batteries, electronics, networking and telecommunications equipment, the report said.
Read the full report: Nikkei Asia
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