BREAKING NEWS
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Union Cabinet nod to Rs 1.26 lakh cr chip-making units
PTI, Feb 29, 2024, 5:06 PM IST
The Union Cabinet on Thursday approved setting up three semiconductor-making units by firms, including Tata Group and Japan’s Renesas, 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.
The units which will make chips for sectors including defence, automobiles and telecommunications, will begin construction within the next 100 days, Telecom Minister Ashwini Vaishnaw told reporters after the cabinet meeting.
The three units will be set up under the ‘Development of Semiconductors and Display Manufacturing Ecosystem’ programme that provides government support of up to Rs 76,000 crore.
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