The Union Cabinet chaired by PM Modi approves the establishment of three semiconductor units in Gujarat and Assam. Tata Electronics Private Ltd and Powerchip Semiconductor Manufacturing Corp will set up a semiconductor fab at Dholera, while CG Power, in partnership with Renesas Electronics Corporation and Stars Microelectronics, will set up a unit in Sanand. The article provides details on the investments and capacities of the units.
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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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.