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Chip consortium ISMC plans to invest $3 billion to set up plant in Karnataka

Chip consortium ISMC plans to invest $3 billion to set up plant in Karnataka

Chip consortium ISMC plans to invest $3 billion to set up plant in Karnataka

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International Semiconductor Consortium ISMC will invest USD 3 billion to set up a chip making plant in Karnataka. There will be an investment of about Rs 22,900 crore in this. It will be India’s first semiconductor manufacturing unit which is expected to create over 1500 direct jobs and 10,000 indirect jobs. An MoU in this regard was signed with the State Government in Bengaluru today. ISMC has requested 150 acres of land in Ketchanahalli industrial area of ​​Mysore.

The unit will be set up under the Indian Semiconductor Mission of the Central Government. ISMC is a joint venture company between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor. India’s semiconductor market is projected to grow from $15 billion in 2020 to $63 billion by 2026.

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Chip consortium ISMC plans to invest $3 billion to set up plant in Karnataka

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