Tata Sons Chairman Natarajan Chandrasekaran on Thursday said India’s largest conglomerate will start producing semiconductors in India in the next few years. In an interview Chandrasekaran said that the production of chips would make India a major supplier globally.
Speaking about the issues and the current shortage in the post-Covid period, Chandrasekaran said the salt-to-auto-to-steel conglomerate “will eventually look into the possibility of launching an upstream chip fabrication platform.” He said the group has already set up Tata Electronics, under which the semiconductor assembly testing business would be set up, and indicated that its potential partners in the project would be from the US, Japan, Taiwan and South Korea.
In the latest interview, the Tata Sons chairman said that the group has already planned to invest $90 billion in the next five years.
“We have created Tata Electronics, under which we are going to set up a semiconductor assembly testing business,” Chandrasekaran told the Tokyo-based publication, referring to an electronic components maker the group set up in 2020. “We will be in discussion with a number of players,” he added, raising the possibility of partnerships with existing chip makers.
Earlier also Chandrasekaran had shown his interest in the field of semiconductors. He added that the total market size of high-tech manufacturing of electronics is around $1 trillion and the group is keen to explore opportunities within this sector.
Apart from semiconductors, the company is also venturing into new age businesses, such as manufacturing of EVs and EV batteries, generation of renewable energy and development of “super apps” that allow users to buy goods and services from groceries and financial products. Allows, Chandrasekaran told Nikkei Asia.
India’s EV Boom
A report by India Ratings & Research recently stated that India needs around 63,000 charging stations and a cumulative investment of Rs 26,900 crore in the next five years to meet the growing demand for electricity to operate electric vehicles in the country. will be required.
In the next decade, in line with the growth in EV sales, the country may need 0.23 million charging stations, with a total investment of Rs 1.05 lakh crore by FY32, the report said. According to official data, there are about 1,000 commercial charging stations in the country as of FY2012.