India approves huge semiconductor investment case

The Indian government has approved semiconductor investment projects totaling $15.2 billion, including a plan by Tata Group and TSMC to invest $11 billion to build the first large-scale 12-inch wafer factory in India, and a plan by CG Power, owned by Indian conglomerate Murugappa, to invest 76 billion rupees (about $917 million) in Gujarat, India, in cooperation with Japan's Renesas Electronics and Thailand's Stars Microelectronics to build a chip packaging plant. These investments will lay the foundation for India to become a major chip manufacturing country.