PM Modi meets Tata Sons, Taiwan's PSMC leaders as they build Rs 91,000 cr chip facility in India

New Delhi, Sep 26 (IANS) Prime Minister Narendra Modi on Thursday met the leadership team of Tata Sons and Taiwan's Powerchip Semiconductor Manufacturing Corporation (PSMC), which are building a Rs 91,000 crore mega semiconductor fabrication facility in Gujarat's Dholera. 

In a post on X, PM Modi said he had "a great meeting with the leadership team of Tata Sons and PSMC".

"They shared updates on their semiconductor manufacturing projects. PSMC expressed enthusiasm to further expand its footprint in India," said the Prime Minister.

Railways and Electronics and IT Minister Ashwini Vaishnaw said a detailed technology agreement has been inked between Tata Electronics and PSMC for the semiconductor fab in Dholera.

"Holistic semiconductor ecosystem is taking shape," said the minister after meeting the leadership team, including N. Chandrasekaran, Chairman, Tata Sons.

In March, PM Modi laid the foundation stone of the Tata-PSMC chip plant in Gujarat. The fab construction will generate over 20,000 direct and indirect skilled jobs in the region. This fab will have a manufacturing capacity of up to 50,000 wafers per month and will include next-generation factory automation capabilities deploying data analytics and machine learning to achieve industry-best factory efficiency.

According to the companies, the new semiconductor fab will manufacture chips for applications such as power management IC, display drivers, microcontrollers (MCU) and high-performance computing logic, addressing the growing demand in markets such as automotive, computing and data storage, wireless communication and artificial intelligence.

According to Chandrasekaran, Tata Group has a tradition of pioneering many sectors in the country, and "we are confident that our entry in semiconductor fabrication will add to this legacy".

PM Modi said recently that this is the right time and place to be in India when it comes to semiconductor manufacturing, as the country provides an integrated ecosystem for the global players, along with ease of doing business and a large talent pool.