Tata Group plans to build semiconductor plant in Gujarat
At an investment summit on Wednesday, Tata Sons chairman Natarajan Chandrasekaran said that the Tata Group is close to announcing plans to develop a semiconductor fabrication plant in Gujarat. This is the second big move by Tata in the span of a few months after it became the first Indian company to manufacture iPhones after acquiring the Wistrom plant near Bengaluru for approximately $125 million.
Tata Group to build semiconductor plant
The comments came at the Vibrant Gujarat Global Summit, a business event being held in Prime Minister Narendra Modi’s home state in one of his last major efforts to draw investments before a re-election bid.
Chip manufacturing is a key plank of Modi’s business agenda, but initial bids to offer $10 billion in incentives to the chipmaking industry have floundered, with some proposals stalled or cancelled.
Tata Group “is on the verge of concluding and announcing a huge semiconductor fab in Dholera (of Gujarat), and we are about to complete this negotiations and start in 2024,” Chandrasekaran said.
Tata Group will also begin construction of a 20 gigawatts battery storage factory in Gujarat in the next couple of months, he added.
At the summit, South Korea’s Simmtech said it would open a chip component plant in Gujarat alongside the upcoming semiconductor testing and packaging facility of U.S. chipmaker Micron.
(With inputs from Reuters)
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At an investment summit on Wednesday, Tata Sons chairman Natarajan Chandrasekaran said that the Tata Group is close to announcing plans to develop a semiconductor fabrication plant in Gujarat. This is the second big move by Tata in the span of a few months after it became the first Indian company to manufacture iPhones after acquiring the Wistrom plant near Bengaluru for approximately $125 million.
Tata Group to build semiconductor plant
The comments came at the Vibrant Gujarat Global Summit, a business event being held in Prime Minister Narendra Modi’s home state in one of his last major efforts to draw investments before a re-election bid.
Chip manufacturing is a key plank of Modi’s business agenda, but initial bids to offer $10 billion in incentives to the chipmaking industry have floundered, with some proposals stalled or cancelled.
Tata Group “is on the verge of concluding and announcing a huge semiconductor fab in Dholera (of Gujarat), and we are about to complete this negotiations and start in 2024,” Chandrasekaran said.
Tata Group will also begin construction of a 20 gigawatts battery storage factory in Gujarat in the next couple of months, he added.
At the summit, South Korea’s Simmtech said it would open a chip component plant in Gujarat alongside the upcoming semiconductor testing and packaging facility of U.S. chipmaker Micron.
(With inputs from Reuters)
Also, read these top stories today:
Google infringed AI patents? Google accused of infringing patents and using the tech to power AI features in Google Search, Gmail, Google Translate. Some interesting details in this article. Check it out here.
“AI isn’t going to just be for helping make Microsoft Office better”. Microsoft says AI to help researchers speed up the painstaking work required to discover new chemical compounds and materials. Dive in and see what it just did here.
An invisible TV! LG says the TV is “practically invisible when turned off”, doing away with the ugly big black screen that can ruin a room’s feng shui.
Check the future of TV here.
One more thing! We are now on WhatsApp Channels! Follow us there so you never miss any updates from the world of technology. To follow the HT Tech channel on WhatsApp, click here to join now!
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