The international semiconductor consortium ISMC would invest $3 billion in Karnataka to build a chip-making factory.

ISMC is a joint venture between Next Orbit Ventures in Abu Dhabi and Tower Semiconductor in Israel. Intel Corp, the world’s largest chipmaker, has declared its intention to buy Tower.

According to a tweet from the state’s investment promotion office, India’s first semiconductor fabrication plant is estimated to create more than 1,500 direct employment and 10,000 indirect ones.

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