India approves first semiconductor fab plant

India has approved the establishment of its first semiconductor fabrication plant under a Special Economic Zone (SEZ) in Gujarat. The Tata Group is set to invest ₹91,000 crore (approximately $11 billion) in the project, marking a significant milestone in India's push for technological self-reliance. This move aims to reduce the country's dependence on imported chips and bolster its position in the global electronics supply chain. The plant is expected to produce chips for a range of industries, including automotive, electronics, and telecommunications.