Tata Sons Chairman Chandrasekaran says semiconductor chip company to produce in India

Tata Sons Chairman Natarajan Chandrasekaran said on Thursday that India's largest conglomerate would start producing semiconductors in India within the next few years. In an interview with Nikkei Asia, Chandrasekaran said that the chips would make India a key supplier on a global scale.

Chandrasekaran said that the salt-to-auto-to steel conglomerate will look into the possibility of launching an upstream chip fabrication platform. He said that the group has already set up Tata Electronics under which semiconductor assembly testing business will be set up, and that its potential partners in the project would be from the US, Japan, Taiwan, and South Korea.

Chandrasekaran told the Tokyo-based publication that the group founded Tata Electronics, under which we are going to set up a semiconductor assembly testing business. He said that we will have discussions with multiple players, raising the possibility of partnerships with existing chip manufacturers.

Chandrasekaran had shown interest in the field of semiconductors earlier in the day. He said the total market size of high-tech manufacturing of electronics is about $1 trillion, and the group is keen to explore the opportunities within the sector.

The chairman of Tata Sons said that the group has already planned to invest $90 billion over the next five years.

Chandrasekaran told Nikkei Asia that the company is also working on new-age businesses, like the manufacture of EVs and EV batteries, the production of renewable energy and the development of super apps that allow users to buy goods and services from groceries to financial products.

India will need about 63,000 charging stations and cumulative investments of Rs 26,900 crore over the next five years to meet the growing demand for power for electric vehicles in the country, according to a report by India Ratings and Research.

The country could need 0.23 million charging stations in the next decade, in line with the growth in EV sales, resulting in a total investment of Rs 1.05 lakh crore by FY 32, according to the report. As of now, there are about 1,000 commercial charging stations in the country in FY 22, according to official data.

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