India okays $15 billion of milestone chip plant investments, including that of Tata Group
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India's government has approved $15.2 billion worth of investments in semiconductor fabrication plants, including a Tata Group proposal to build the country's first major chipmaking facility.Prime Minister Narendra Modi's cabinet approved Tata's plan to build an $11 billion site that can fabricate about 50,000 wafers per month, technology minister Ashwini Vaishnaw told reporters in New Delhi Thursday. The government also cleared Tata's separate proposal for a $3 billion-plus chip assembly plant, and a packaging venture between Japan's Renesas Electronics Corp. and the Murugappa Group's CG Power and Industrial Solutions Ltd. While still merely blueprints, the approvals advance India's semiconductor ambitions. Like a growing number of countries around the world, the Modi administra...