Indian conglomerate Tata Group has submitted an application to set up a greenfield semiconductor processing plant in Jagiroad, Assam, with an investment of Rs 40,000 crore.
“Tata Group has submitted an application to set up a semiconductor processing plant in Assam with an investment of Rs 40,000 crore,” CM Himanta Biswa Sarma tweeted.
Tata Group has submitted an application to set up a semiconductor processing plant in Assam with an investment of ₹40,000 cr.
This will be a game changer. My gratitude to the Hon’ble Prime Minister Shri @narendramodi ji for his continuous guidance in transforming our State. pic.twitter.com/ghullBk1Rg
— Himanta Biswa Sarma (@himantabiswa) December 8, 2023
The development, led by Tata Electronics Limited, marks a significant leap in India’s journey towards becoming a self-reliant hub in semiconductor technology, essential for electronic manufacturing. According to reports, the plant will focus on semiconductor assembly and packaging, a critical component in the domestic supply chain.
What Chief Minister’s say about Tata Group’s application
Assam’s Chief Minister, Himanta Biswa Sarma, revealed that Tata Group has approached the Indian government for final approval after fruitful discussions with the state government.
The plant, located about 55 km from Guwahati in Morigaon district, is expected to create a conducive environment for industrialization in Assam. The Chief Minister expressed optimism about the project’s approval in the coming months and highlighted the group’s commitment to training 1,000 individuals for employment in the new facility.
What will be the economic and social impact?
The investment by Tata Group is anticipated to generate significant employment opportunities in Assam, attracting further capital investments. Tata Electronics plans to employ 85% women in its workforce and engage in community development initiatives focusing on health, hygiene, and education.
The development also aligns with the Indian government’s efforts to boost domestic semiconductor manufacturing. Programs like ‘Make in India,’ Production Linked Incentive (PLI), Design Linked Incentive (DLI), and fiscal support for fabs are instrumental in building a robust semiconductor ecosystem in India.
Assam’s industrial climate and entrepreneurial support
The Chief Minister also highlighted Assam’s evolving industrial climate and the launch of the Mukhya Mantri Atmanirbhar Asom, a scheme aimed at empowering two lakh youths for entrepreneurial ventures.
Along with the semiconductor plant, this initiative aims to revolutionize Assam’s economic landscape, providing financial empowerment and making the youth eligible for further loans from the central government.
Join our new WhatsApp Channel for the latest startup news updates