The European Union announced a $48-billion (roughly Rs. 3,58,520 crore) plan to become a major semiconductor producer, seeking to curb its dependency on Asian markets for the component that powers everything from cars to hospital ventilators and game consoles.

source https://gadgets.ndtv.com/mobiles/news/chip-production-shortage-eu-usd-48-billion-plan-manufacture-asia-dependency-jor-biden-push-2757592#rss-gadgets-all