KATHMANDU: India has approved two semiconductor projects worth USD 414 million, expanding its push to become a global electronics hub.

The new facilities, an LED display unit and a semiconductor packaging plant, raise the total number of such projects to 12, with combined investments reaching about USD 17.2 billion.

Launched in 2021, the initiative aims to reduce import dependence and strengthen supply chains. The new units will support sectors including automotive and electronics.

India’s chip market has grown rapidly and is projected to reach up to USD 110 billion by 2030, with multiple facilities already entering production.