Tata Group has revealed intentions to construct an advanced semiconductor fabrication facility in Gujarat, marking India's venture into establishing itself as a key global semiconductor hub. N. Chandrasekaran, Chairman of Tata Sons, revealed at the 10th Vibrant Gujarat Global Summit in Gandhinagar that Tata Group is nearing the completion of plans for a significant semiconductor fabrication plant in Dholera, Gujarat.

"We are in the final stages of discussions for the semiconductor fab, scheduled to begin operations in 2024", Chandrasekaran announced during the gathering. Additionally, the company is poised to initiate the construction of a 20-gigawatt battery storage factory in Gujarat within the forthcoming months. Chandrasekaran highlighted this ambitious endeavor as a strategic step by Tata Group to reinforce its position in the renewable energy domain and contribute to India's increasing emphasis on sustainable energy solutions.

Tata Group also plans to establish one of India's largest iPhone assembly plants in Hosur, Tamil Nadu, featuring approximately 20 assembly lines and envisaging the employment of 50,000 workers within a span of two years. Media reports indicate the facility's operation is slated to commence within 12 to 18 months. Furthermore, in September of the previous year, Micron Technology from the United States initiated the construction of a Rs 22,500 crore facility in Sanand, Gujarat, serving as a significant milestone in India's semiconductor journey. Another noteworthy development came from engineering major Larsen & Toubro (L&T), which disclosed plans to invest up to Rs 830 crore to establish a fabless semiconductor chip design subsidiary, amplifying the nation's efforts to establish itself as a semiconductor hub.