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Adani Group and Tower Semiconductor to invest $10 billion in a joint venture to establish a semiconductor manufacturing facility in Maharashtra.
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The facility will produce 40,000 wafer starts per month in the first phase and double to 80,000 in the second phase.
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The project aims to boost India’s self-reliance in semiconductor production and reduce reliance on global supply chains.
In a significant boost to India’s semiconductor sector, the Maharashtra cabinet has approved a $10 billion investment plan for a joint venture between Adani Group and Tower Semiconductor. The project aims to establish a semiconductor manufacturing facility in Taloja, Panvel, which will play a crucial role in bolstering India’s self-reliance in chip production.
The facility will have an initial capacity to produce 40,000 wafer starts per month, which will be doubled to 80,000 in the second phase. This development is part of India’s broader effort to build a robust domestic semiconductor industry and reduce reliance on global supply chains.
The project still requires final approval from the India Semiconductor Mission and the Ministry of Electronics and Information Technology to secure federal incentives. Once operational, the facility will contribute significantly to India’s chip production, along with other semiconductor projects in the pipeline, including Tata Group’s fabrication unit in Gujarat.
