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Adani Group pauses $10B chip project talks with Tower Semiconductor due to demand concerns.
Indian billionaire Gautam Adani's group has paused talks with Israeli firm Tower Semiconductor over a $10 billion chip manufacturing project in India due to concerns over demand and strategic fit.
The project, approved by Maharashtra state, aimed to produce 80,000 wafers per month and create 5,000 jobs.
Adani Group found uncertainty in domestic demand and sought more financial commitment from Tower.
This pause may hinder Prime Minister Narendra Modi's "Make in India" plans to boost the country's semiconductor industry.
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