Tata Group plans to build semiconductor plant in Gujarat

Tata Group is close to announcing plans to build a new semiconductor fabrication plant in India's Gujarat state this year, according to Tata Sons chairman Natarajan Chandrasekaran.

Tata Sons chairman said that the company is close to announcing plans for a new semiconductor plant in Gujarat. (REUTERS)

At an investment summit on Wednesday, Tata Sons chairman Natarajan Chandrasekaran said that the Tata Group is close to announcing plans to develop a semiconductor fabrication plant in Gujarat. This is the second big move by Tata in the span of a few months after it became the first Indian company to manufacture iPhones after acquiring the Wistrom plant near Bengaluru for approximately $125 million.

Tata Group to build semiconductor plant

The comments came at the Vibrant Gujarat Global Summit, a business event being held in Prime Minister Narendra Modi's home state in one of his last major efforts to draw investments before a re-election bid.

Chip manufacturing is a key plank of Modi's business agenda, but initial bids to offer $10 billion in incentives to the chipmaking industry have floundered, with some proposals stalled or cancelled.

Tata Group "is on the verge of concluding and announcing a huge semiconductor fab in Dholera (of Gujarat), and we are about to complete this negotiations and start in 2024," Chandrasekaran said.

Tata Group will also begin construction of a 20 gigawatts battery storage factory in Gujarat in the next couple of months, he added.

At the summit, South Korea's Simmtech said it would open a chip component plant in Gujarat alongside the upcoming semiconductor testing and packaging facility of U.S. chipmaker Micron.

(With inputs from Reuters)

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