New Delhi, February 29: In a fillip to the country's goal to become a global semiconductor hub, the Union Cabinet on Thursday approved chip fabrication plants by Tata Group and Taiwan's Powerchip Semiconductor Manufacturing Corporation (PSMC) in Dholera district, Gujarat.

Tata JV will make India's first semiconductor fab with a capacity of 50,000 wafers per month, according to Union IT minister Ashwini Vaishnaw. The Cabinet also approved Tata Semiconductor Assembly Test's assembly and testing unit in Assam at an investment of around Rs 27,000 crore. India Receives ‘Rs 2.5 Lakh Crore’ Worth Investment Proposals in Semiconductor Sector: Report.

Earlier this month, Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, had announced that Assam will soon have its first-ever semiconductor packaging plant built jointly by the state government and Tata Group. India has received over Rs 2.5 lakh crore worth investment proposals in the semiconductor sector, ranging from packaging, design and research and development, according to Chandrasekhar. Airtel Tariff Hike: Company To Raise Telecom Tariffs if Market Signals Are Perfect for Healthy Valuations, Says Sunil Bharti Mittal.

In September last year, US-based Micron Technology started the construction of a Rs 22,500 crore facility in Sanand, Gujarat, that will set a benchmark for India’s semiconductor journey.

(The above story first appeared on LatestLY on Feb 29, 2024 04:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website