India, March 18 -- Prime Minister Narendra Modi virtually laid the foundation stone for three major semiconductor manufacturing projects in India on 13 March 2024. This marks a significant milestone in India's journey towards self-reliance in chip production. One of the three projects is for a commercial semiconductor fabrication facility (fab). This will be the first of its kind in India. Tata Electronics is setting up the fab in partnership with Taiwan's Powerchip Semiconductor Manufacturing Corporation (PSMC). The project's estimated cost is Rs 91,000 crore (approximately $11.3 billion).

India relies heavily on imports for its semiconductor needs. This new fab will help reduce this dependence and boost domestic chip production. The se...