Asian Tech Press (June 16) -- India will invest $30 billion to accelerate the upgrade of the tech sector and establish a chip supply chain.

India is set to spend $30 billion to overhaul its technology industry and build up a chip supply chain, said Gourangalal Das, director-general of the India-Taipei Association, the country's top diplomat to Taiwan.

Das said that the fund will see the establishment of a complete supply chain ecosystem, of which about $10 billion will be used to build two chip factories and two display factories.

The Indian government also plans to provide about $7 billion to the electronics industry, including companies such as Foxconn and fellow iPhone assembler Pegatron Corp.

The remaining $13 billion will be reserved for "affiliated services like telecom, networking, solar photovoltaic, advanced chemistry and battery cells," Das said.

The rest of the money is for "ancillary services such as telecommunications, networking, solar photovoltaics, advanced chemicals and batteries," Das said.