Ahmedabad, Jan 11 (IANS): Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, announced on Thursday that the Tata Group's upcoming investment in semiconductor fabrication in Gujarat is set to be substantial.
This announcement was made during the biennial Vibrant Gujarat Global Summit 2024.
The investment, considered a step in India's technology sector, is poised to cover a broad spectrum of opportunities, ranging from semiconductor fabrication to Outsourced Semiconductor Assembly and Test (OSAT).
The proposed semiconductor chips manufacturing factory in Dholera is expected to be a financial undertaking for the Tata Group.
"We've made considerable progress, and soon, we'll present it to the Cabinet for approval. Construction will commence following the approval," Vaishnaw stated. The Union Cabinet's green light is necessary for the project to proceed.
Vaishnaw also mentioned that the Tata Group plans to collaborate with a technical partner for this project, but details regarding the partner and the investment specifics remain under wraps.
In addition, Vaishnaw emphasised the foundational nature of a semiconductor fab, highlighting its potential for creating a multiplier effect in the industry.
In a related development, Vaishnaw shared that Simmtech, a South Korean company associated with the semiconductor industry, has committed to investing Rs 1,250 crore for a new factory in Sanand, Gujarat.
This project, supported by a government subsidy, will be situated on a 30-acre land parcel provided by Gujarat.