Israel's Tower Semiconductor and Adani's $10 Billion Chip Project in India
Israel’s Tower Semiconductor and India’s Adani Group are set to invest 839.47 billion rupees ($10 billion) in a semiconductor manufacturing project in Maharashtra. The initiative highlights India’s push to become a global hub for chip production, despite previous challenges such as Foxconn’s withdrawal from a $19.5 billion joint venture with Vedanta and stalled plans by ISMC to invest $3 billion.
India anticipates its semiconductor market will reach $63 billion by 2026, signaling significant growth and opportunities in the sector.
The semiconductor plant in Maharashtra will initially produce 40,000 wafers. The project is part of a broader investment strategy in the state, which also includes the establishment of two new electric vehicle manufacturing units. Skoda-Volkswagen will invest 150 billion rupees in an electric vehicle plant, while Toyota-Kirloskar will allocate 212.73 billion rupees for hybrid and electric vehicle production.
The projects approved on Thursday are expected to generate 29,000 jobs, marking a substantial boost to the local economy.
India has many cities that are famous for their unique industries, and some of them…
Some deserts are extremely hot, but some remain cold throughout the year. These cold deserts…
In today’s world, news media plays a very important role in sharing information quickly and…
PNB Housing Finance has announced the appointment of Ajai Kumar Shukla as its new Managing…
In a major push towards deepening financial inclusion, the Department of Posts (DoP) and BSE,…
India’s retail inflation, measured by the Consumer Price Index (CPI), increased modestly to 0.71% in…