In an effort to establish itself as a significant chip hub, India has approved the construction of three semiconductor facilities at a cost of more than $15 billion.

"India already possesses strong chip design skills. These devices will help our nation advance its chip production capabilities. India will develop advanced packaging technology domestically, a government statement said on Thursday.

Highlights: 

• India invests $15 billion in 3 semiconductor facilities.
• Collaboration with Tata Electronics and Taiwan's Powerchip for a $11 billion plant in Gujarat.
• Aim to create 80,000 jobs amidst global geopolitical shifts.

India has been enticing international companies to establish facilities there with the goal of becoming a significant chip hub along the lines of the US, Taiwan, and South Korea.

The announcement stated that Tata Electronics and Taiwan's Powerchip Semiconductor Manufacturing Corp. would work together to invest about $11 billion (roughly Rs. 91,000 crore) to build one of the fabrication plants in Dholera, Gujarat.

PSMC provides chip design and manufacturing services for the logic and memory industries.

Taiwan is home to six of its semiconductor foundries.

The factory will concentrate on the more developed 28-nanometer technology, specifically in the automotive, consumer electronics, and defense industries. The processes used to create chips that are 28 nanometers or larger—generally referred to as legacy chips—are referred to as mature technology.

"In a short period of time, India Semiconductor Mission has accomplished four significant victories. The government said that these devices will help create India's semiconductor environment.

Approximately 60,000 indirect jobs and 20,000 direct jobs in high technology can be generated through these factories.

In the face of geopolitical unpredictability, multinational chip producers had been seeking to diversify their enterprise, which might help countries like India.

The biggest agreement chip producer inside the global, Taiwan Semiconductor Manufacturing Company, has just mounted a brand new facility in Japan so one can fortify the state's flagging chip production quarter.