India’s semiconductor landscape is set to receive a significant boost as Tata Group announced plans to establish a cutting-edge semiconductor fabrication plant in Dholera, Gujarat. This move, unveiled by Tata Sons Chairman Natarajan Chandrasekaran at the Vibrant Gujarat Summit, underscores the company’s commitment to driving the growth of India’s semiconductor industry.
Building on the Indian government’s efforts to attract semiconductor chip manufacturers, Tata Group’s move aligns with Prime Minister Narendra Modi’s offer of 50% financial support for firms setting up facilities in India. Gujarat, with its semiconductor policy for 2022-27 that offers additional incentives, has positioned itself as an attractive investment destination.
However, the semiconductor plant is not the only ambitious venture by Tata Group in Gujarat. Alongside this announcement, Mr. Chandrasekaran highlighted other significant projects, including the construction of a 20-gigawatt battery storage factory set to commence within the next few months. This expansion into electric vehicle (EV) technology positions the region as a key hub for Tata Group’s EV initiatives, particularly in Sanand.
Furthermore, Tata Power Co. Ltd. has entered an exploratory agreement with the government of Tamil Nadu to invest an estimated 708 billion rupees ($8.5 billion) in clean energy projects. This commitment includes the construction of 10 gigawatts of renewable energy projects and the expansion of solar panel manufacturing capacity to 4.3 gigawatts.
The Vibrant Gujarat Global Summit, a biennial event that showcases Gujarat’s economic strength and attracts global investments, has seen another major announcement. Adani Group has revealed its plans for a massive Rs. 2 trillion investment over the next five years, which includes the construction of the world’s largest green energy park in Gujarat’s Rann of Kutch.
With Tata Group’s foray into the semiconductor industry, Gujarat’s technological landscape is set to become even more vibrant, making it an attractive destination for investments in advanced manufacturing and clean energy. This move underscores Tata Group’s commitment to driving innovation and bolstering India’s position in the global semiconductor market.
The source of the article is from the blog scimag.news