Indian semiconductor industry may benefit from the proposed US CHIPS Act

US Chips act has a total outlay of $53 billion, five times India's PLI scheme for semiconductors which amounts to $10 billion

A US legislation promoting domestic production of semiconductors may be beneficial India and others over the years, said a media report on Friday.

The CHIPS Act aims provides incentives to companies for setting up semiconductor and advanced technology factories in the US. It also prohibits companies receiving funding from the US government from setting up such factories in China for the next 10 years, Mint newspaper reported. 

"The $50 billion plus incentives from the US may be utilized by then, and firms will look to expand globally, and India would be a good choice. By then, markets like India, too,