Tata Group plans to enter the Indian market for semiconductor chips and manufacture its own chips there. The chairman of Tata Sons, Natarajan Chandrasekaran, stated that the company was discussing partnerships with the existing chip producers with a number of Indian businesses.
In a meeting, Tata Sons chairman featured that the organization has set up a facility, in which they will set up a semiconductor chip testing business. In June 2022, Tata already announced a partnership with Tokyo-based Renesas Electronics.
The chairman says that the company is also working on starting new businesses in new fields like electric vehicles. The announcement comes at a time when the Indian government wants to increase investments in the electronics sector as a whole. India’s union minister of state for entrepreneurship, development, technology, and electronics, Rajeev Chandrasekhar, stated in November 2022 that the Prime Minister of India had established a new goal to raise production in the electronics industry to $300 billion by 2025-2026.
Rajeev Chandrasekhar added that the Indian government intends to invest $30 billion in electronics and semiconductors, with $10 billion going toward semiconductor production and $20 billion going toward electronics design and manufacturing.
The chairman of Tata Sons, according to reports, anticipates that traditional internal combustion engine (ICE) sales will surpass electric vehicle sales in India by 2027, rather than the anticipated 2030 date.