The Indian government is likely to approve the proposal from Israeli semiconductor company Tower, marking a significant milestone for India’s semiconductor sector. The Cabinet is also expected to greenlight proposals from Tata Group and the joint venture between HCL Group and Foxconn Group. Tata aims to establish an assembly, testing, marking, and packaging unit in Assam, with plans for a fab in Gujarat. HCL and Foxconn’s joint venture involves an outsourced assembly and testing unit, with a total investment of approximately $100 million. The semiconductor sector in India has garnered investment proposals exceeding Rs 2.50 trillion from global chip makers, reflecting substantial progress in the past two years.
Tower’s Semiconductor Proposal Expected to Secure Approval, Paving the Way for India’s First Chip Foundry
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