Gujarat: Tata Group to Invest Big in Semiconductor Sector with Cabinet’s Nod

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Gujarat: Tata Group to Invest Big in Semiconductor Sector with Cabinet’s Nod

| Updated: February 29, 2024 19:32

The Tata Group, led by chairman N Chandrasekaran, is set to make huge investments in the semiconductor sector, following the Cabinet’s approval of its plans for semiconductor chip fabrication and assembly units in Gujarat and Assam. The Cabinet, headed by Union Minister Ashwini Vaishnaw, gave the green signal to Tata’s proposals, which are part of its diversification strategy across various domains.

The semiconductor chip fabrication unit in Gujarat, with a projected cost of nearly Rs 50,000 crore, will boost India’s self-reliance in semiconductor production. The semiconductor assembly and packaging plant in Jagiroad, Assam, with a proposed investment of Rs 40,000 crore, will be the first of its kind in Assam, and will be a joint venture between the Assam government and Tata Group. The plant is expected to generate employment and revenue for the state.

Another semiconductor unit in Gujarat, involving CG Power, Renesas Electronics Corp, Japan, and Stars Microelectronics, Thailand, also received the Cabinet’s approval, enhancing the semiconductor landscape in the region.

The Tata Group’s ambitious investments in the semiconductor sector, along with other areas such as defence, electric vehicles, and Air India, reflect its vision to drive innovation and growth. Sources close to the matter revealed that the Tata Group is planning to pump over $120 billion into these new ventures and group priorities in the next few years, exceeding the initial estimates of $90 billion by 2027. This massive investment marks the Tata Group’s largest domestic investment commitment ever.

The Tata Group’s recent announcements show its proactive attitude to capture new opportunities. The group has plans to set up a semiconductor processing plant in Assam, with an estimated investment of Rs 40,000 crore, and a 20-gigawatt battery storage factory in Gujarat in the near future.

N Chandrasekaran, while addressing the 20th Anantharamakrishnan Memorial Lecture on “India’s Leadership in a Pivotal Decade,” where he received the MMA-Amalgamations Business Leadership Award 2023, highlighted the Tata Group’s forward-looking approach, as evidenced by its investments in Air India and the electronics and semiconductor sector. However, he did not disclose specific details about the semiconductor fabrication unit.

Sanjay Gupta, Chairperson of IESA, and Ashok Chandak, President of IESA (Indian Electronics And Semiconductor Association), in a statement to Times Now, said:

“The Union Cabinet’s approval of three semiconductor units, with an estimated cost of Rs 1.26 lakh crore, marks a historic moment for India’s semiconductor industry. This initiative, which will start construction within the next 100 days, shows India’s commitment to building a strong semiconductor manufacturing ecosystem. We are particularly proud to note that Tata Electronics and Renesas Electronics, both valued members of the India Electronics and Semiconductor Association (IESA), are key players in this initiative. Their participation not only shows their commitment to India’s technological progress but also underscores the vital role of IESA in promoting industry growth and innovation.”

Earlier reports suggested that the Tata Group may explore partnerships with prominent Taiwanese chip makers for its semiconductor projects.

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