The ministry of IT in India has announced an investment of over $15 billion USD for the construction of multiple semiconductor facilities in the country. These plants will be set up by the Tata Group and Powerchip Semiconductor Manufacturing Corporation (PSMC).
Founded in 1868, the Tata Group is one of the largest conglomerates in India, with its products spanning across information technology, hospitality, e-commerce, telecommunications, etc. The Powerchip Semiconductor Manufacturing Corporation (PSMC) is a semiconductor company that specializes in the development of memory chips and microchips. It was founded in 1994 with its headquarters in Taiwan.
The report further mentions that a total of 3 facilities would be constructed with building works scheduled to commence within 100 days from the initial announcement. The facilities would manufacture chips to cater to various markets like electronics, electric vehicles, and telecommunication etc.
