India's domestic chip plan has been hit again, with news saying that the $3 billion project for Gaota Semiconductor has been indefinitely shelved

ISMC, a joint venture led by Israeli chip manufacturer Takata Semiconductor, originally planned to establish a semiconductor base in southern India. However, after Intel announced its acquisition of Gaota Semiconductor, the project was put on hold, which also caused another setback for India's domestic semiconductor plan.

After the Indian government established a subsidy fund of $10 billion (IT Home note: currently approximately 71.1 billion RMB), a total of three semiconductor manufacturers have submitted subsidy applications. They are: a joint venture between Hon Hai and Vedanta, ISMC led by Israeli wafer foundry Takata Semiconductor, and Singapore venture capital company IGSS Ventures.

The leadership of Intel and Gaota Semiconductor both expressed to the Indian side that they cannot continue to sign a binding agreement.

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