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India is preparing a new fund exceeding 1 trillion rupees ($11 billion) to accelerate domestic chip manufacturing, building on a $10 billion incentive program launched in 2021 and marking the country's most aggressive push yet to break free from near-total dependence on semiconductor imports. The initiative arrives as geopolitical tensions, supply chain fragility, and a global subsidies race — led by the US CHIPS Act and the EU Chips Act — reshape where the world's most critical components are made.