India’s electronics industry is booming every year, and to boost the growth semiconductor manufacturing is the urgent need of the hour
The India-based global business magnate Tata Group has now announced its foray into semiconductor manufacturing, which has already entered into manufacturing of hi-tech electronic goods. This global business group has already taken this decision when the coronavirus pandemic started creating a ruckus among the global industrial economy. The pandemic later disrupted the global supple chain, which ultimately created a massive shortage of semiconductor and chipset.
Of late, the conglomerate has purchased a stake in Tejas Network that is associated with manufacturing of telecom equipment. In a media interaction, Tata Sons Chairman N Chandrasekaran said recently: “At the group, we have already set up a business to seize the promise of high-tech manufacturing of electronics, precision manufacturing, assembly and testing, and semiconductors in the medium term.”
At the current situation, the entire world is witnessing shortage of semiconductors and processors, which are now extremely imperative for not only cutting-edge consumer electronic products, but also for other valuable sectors like automobiles. According to experts, the decision of entering into semiconductor manufacturing business would prove to be money-spinning for Tata Group because its customers will be based from not only India, but all around the world.
Apart from this, the grave move would also prove to be important for captive use with Tata Motors, Tata Power, etc. According to Tata spokesperson, this move was essential because the pandemic on the one hand increased demand of electronic products and on the other hand, the brain-center of making these devices is now under a serious crisis. India’s electronics industry is booming every year, and to boost the growth semiconductor manufacturing is the urgent need of the hour.