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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 country's 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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