Billionaire Anil Agarwal's $19bn plan to establish a chipmaking plant in India is facing difficulties due to the venture's inability to secure a technology partner, according to unnamed sources. Winning government funding is key to Agarwal's chip dream and to reduce borrowings from his commodities business, which is under financial strain. India's $10bn drive to jump-start local chip production has yet to attract any major global players, underscoring the difficulty involved in supply chain shifts.
