Updated February 29th, 2024 at 22:14 IST

Tata's semiconductor investment is a gamechanger for NE economy: Assam CM

Union Cabinet has approved setting up three semiconductor-making units at Rs 1.26 lakh crore investment.

Reported by: Business Desk
Tata Group semiconductor project | Image:Republic
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Semiconductor push in NE: Assam Chief Minister Himanta Biswa Sarma has said the Rs 27,000 crore worth semiconductor plant to be set up in the State, which has received a nod from the Union Cabinet, is set to be a gamechanger for North East's economy. The semiconductor plant will spur a new Industry 4.0 revolution in the state, Sarma added.

The Union Cabinet approved setting up three semiconductor-making units at an investment of Rs 1.26 lakh-crore as part of an attempt to cut India's dependence on imports to meet requirements of chips, of which one will be in Assam.

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Tata Semiconductor Assembly and Test Pvt Ltd (TSAT) will install a semiconductor unit in Assam's Morigaon. The project is envisaged at an investment of Rs 27,000 crore, and will have a capacity of 48 million chips per day for automotive, electric vehicles, consumer electronics, telecom, and mobile phones. 

Construction in next 100 days 

The construction of the three units will begin within proceeding 100 days, Telecom Minister Ashwini Vaishnaw said after the cabinet meeting.

"The people of Assam will remain eternally grateful to Hon'ble Prime Minister Shri @narendramodi Ji for giving the State a Rs 27,000-crore semi-conductor plant. This is Assam's largest ever private investment and a game changer for the economy of the entire North East," Sarma wrote on X. The Assam CM thanked Vaishnaw for "working behind the scenes for the last one year to ensure Assam secures this investment".

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Sarma expressed gratitude to Ratan Tata and Tata Group chairman N Chandrashekharan, and said he was hopeful that the plant will trigger a new Industry 4.0 revolution in the state. "The Tata Group has taken a huge leap of faith by investing in Assam's future and their decision will encourage several other investors to come to our state," he added.

The CM also thanked Union MoS for Electronics and Technology Rajeev Chandrasekhar and his team "for navigating all the guardrails and enabling this project to reach fruition".

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"Today's decision is truly historic and will unleash infinite opportunities for our people," Sarma said. 

(With PTI inputs) 

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Published February 29th, 2024 at 22:14 IST