Page 17 - Tata Electronics News Today

Tata Investment Corporation Share Price: Tata Investment Corporation shares climbed over 5% as the Union Cabinet approved semiconductor plant proposals by Tata Group. The plants will be set up in Gujarat and Assam. Tata Sons plans to invest over $120 billion in new business areas.

The Tata group will set up the countrys first fab in Gujarat and a chip assembly and testing facility in Assam

Semiconductors: Union telecom and IT minister Ashwini Vaishnaw said at a press briefing that the abovementioned units will generate direct employment of 20,000 advanced technology jobs and about 60,000 indirect jobs.

India has ambitions to become a major chip hub alongside the likes of the U.S. and Taiwan and has been courting foreign firms to set up operations locally.

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India announces the creation of three semiconductor plants in Gujarat and Assam, marking a significant step in its journey to boost local electronics production.

The government has approved the proposals to set up three semiconductor fabrication plants in India, at an estimated cost of Rs 1.26 lakh crore.

The combined production of the three power plants is etimated to be 50,000 wafers per month, which translates to around 3 billion chips annually. 

Tata Electronics Rs 91,000-crore project will be set up in Gujarats Dholera district in partnership with Taiwanese Powerchip Semiconductor Manufacturing Corp (PSMC), Union communications and IT minister Ashwini Vaishnaw said in a press briefing on Thursday.

India Business News: The Indian government has taken a significant step toward becoming self-reliant in semiconductor production by approving the establishment of three semiconductor fabrication units. The approval, announced on February 29 by the Union Cabinet, involves an investment of Rs 1.26 lakh crore ($15.2 billion). The move is aimed at reducing India's heavy dependence on imported chips, essential for various sectors such as defence, automobiles, and telecommunications.