Let's compare to what India is doing.
They push the deadline to submit an interest to set up semiconductor plant in India second time. Sounds like not many companies interested.
$1billion is not alot of money for each company. All their equipment have to come from the west. Also. India government wants semiconductor plant for cellphone. At least need 7nm. Even global foundry doent have that technology. Probably, india government hoping for TSMC setup one up at India like what is happening in US. Lol.
$1billion is not enough.
Here's the good part. Mandating Indian companies must buy the chips. Wow, that's aggressive. I wish Chinese government mandating Huawei or ZTE buy Chinese chips 10 years ago. Lol.
Made in India 2025 through subsidies,the kind of stuffs made US launched a trade war against China in 2018.
India doesn't have a Fab yet let's see if they indeed able to set one up finally.