Indian government approves three semiconductor fabrication units for domestic chip production.

The Indian government has approved the establishment of three semiconductor fabrication units with a total investment of INR 1.26 trillion ($15.2 billion). The units, set up by companies including Tata Group and Japan's Renesas, aim to reduce India's dependence on imported chips for sectors such as defence, automobiles, and telecommunications. These units will begin construction within 100 days and produce chips for various industries.

February 29, 2024
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