An investment into the semiconductor segment will help the Tata group supply these key components to Tata Motors, Tata Power, and several other companies worldwide.
Tata Group, the salt to IT conglomerate, is set to enter semiconductor manufacturing, aiming for a slice of the high-tech electronics manufacturing market.“At the Tata Group, we have already pivoted into a number of new businesses like electronics manufacturing, 5G network equipment, as well as semiconductors, in all probability,” said N Chandrasekaranat an industry event.
The chairman said changes to the global supply chains, which currently are heavily dependent on China in the aftermath of the pandemic and geopolitical developments, would make businesses shift their reliance on other countries. He called this a huge opportunity for India to become a second base.
“On rebalancing supply chains, India can benefit from global shifts. The Tata group has already set up a business to seize the promise of high-tech manufacturing for electronics. A domestic electronics industry could unlock $1 trillion in GDP and create millions of jobs,” he said.
These remarks come at a time when tech companies, as well as automobile makers across the world, are facing a severe shortage of semiconductors, hitting their businesses. An investment into the semiconductor segment will help the Tata group supply these key components to Tata Motors, Tata Power, and several other companies worldwide. Semiconductor industry requires a high investment, and most of the world is dependent on China. The recent pandemic had caused a global chip supply shortage, forcing companies to cut down on production.
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