This announcement was made following a meeting between Singapore’s Home and Law Minister, K. Shanmugam, and Tata Sons Chairman N. Chandrasekaran.
New Delhi: India’s semiconductor market is likely to witness a major change that will change the business landscape. The Noel Tata-led Tata son has decided to rope in Singapore as a key as a key partner for its semiconductor plan. This announcement was made following a meeting between Singapore’s Home and Law Minister, K. Shanmugam, and Tata Sons Chairman N. Chandrasekaran.
“If they (Tata) wanted, they could have done business with anyone in the world. It’s not that they have to do business only in Singapore, but I believe they are choosing Singapore as a key partner—not just as a partner, but as a significant partner,” Shanmugam said.
He further added that the semiconductors were at the top of the agenda. Shanmugam mentioned that Tata Sons can collaborate globally, but he recognized Singapore as a key partner.
He noted that Singapore is a serious and credible player in the global semiconductor industry and has a significant presence in this sector.
Tata Group Semiconductor Plan
It is important to note that Singapore contributes 20 percent of global semiconductor equipment production and has 25 semiconductor foundries. Shanmugam stated that even though these foundries may not be the most advanced globally, they hold significant importance in the industry.
Additionally, despite its relatively small size of only 670 square kilometers, Singapore houses 25 semiconductor foundries.
Here are some of the key details:
- Singapore contributes to 20 percent of global semiconductor equipment production
- Singapore has 25 semiconductor foundries.
- Despite its relatively small size of only 670 square kilometers, Singapore houses 25 semiconductor foundries.
- The Tata Group has committed to a significant investment in semiconductor manufacturing
- Tata groups plans to invest Rs 91,000 crore for a plant in Gujarat and Rs 27,000 crore for a plant in Assam.
- They are working in collaboration with Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) for these projects.
- There was a discussion on the comprehensive economic and strategic relations between India and Singapore.
Shanmugam stated that this relationship extends beyond business agreements to form a deep partnership in areas like energy, semiconductors, and strategic security.