India approves $15 billion investment for semiconductor plants

CNBC March 1, 2024, 05:00 AM UTC

Summary: India has approved the construction of three semiconductor plants with over $15 billion investment to boost chip fabrication capabilities. Tata Electronics will partner with Taiwan's Powerchip Semiconductor Manufacturing Corp for a $11 billion plant in Gujarat, focusing on 28-nanometer technology. Another $3.26 billion plant in Assam will develop advanced semiconductor packaging technologies. India aims to become a major chip hub, attracting foreign firms to set up operations.

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