Japanese chip companies push deeper into India market

Japanese businesses tied to the chip industry are stepping up their push into the Indian market, betting on Prime Minister Narendra Modi's initiative to make India a leader in the semiconductor industry.

Observers say the investment wave reflects a broader shift in the global semiconductor supply chain, as Japanese companies look to expand market share in a market that the Indian government is backing strongly with a range of incentive policies.

Modi's goal of propelling India to a leading position in semiconductors is seen as the main driver drawing Japanese suppliers of equipment, materials and engineering services to the market.