Adani plans to invest ₹83,947 crore in chip project with Israel's Tower

The govt has been pushing for setting up semicon- ductor units in the country to cut reliance on import

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The Adani Group plans to invest Rs 83,947 crore ($10 billion) with Israeli partner Tower Semiconductor in setting up a chip manufacturing plant in Maharashtra, the state chief minister said try to cut reliance on imports.

India's semiconductor market is expected to be worth $63 billion by 2026.

The chips manufactured at the upcoming facility of Adani will be used in drones, cars, smartphones and other mobility solutions. Tower has The conglomerate led by bil-chip-making factories in Israel, lionaire Gautam Adani has busi- Italy and the US. Its sales are, nesses ranging from seaports however, a fraction of industry to airports, renewable energy, giants Intel and Taiwan Semigas, commodities, data centres conductor Manufacturing Co and media, and this will be its maiden foray into semiconductor manufacturing.