Adani Group Halts $10 Billion Chip Deal

• Adani Group pauses its $10 billion semiconductor venture with Israel's Tower Semiconductor due to strategic and commercial viability concerns.
• Maharashtra's cabinet had approved the ambitious project last year, aiming to boost India's chip manufacturing capacity significantly.
• The decision to pause stems from internal evaluations and demand-related concerns within India.
• Discussions revealed dissatisfaction with Tower Semiconductor's financial commitment, leading to the halt.
• The pause comes amidst a growing Indian semiconductor market, projected to hit $150 billion by 2030.

Source: Inc42