Tata Group Plans to Establish Semiconductor Processing Plant in Assam with INR 40,000 Crore Investment

Tata Group Plans to Establish Semiconductor Processing Plant in Assam with INR 40,000 Crore Investment

Tata Group recently made a significant move by applying to establish a semiconductor processing plant in Assam, with an investment of INR 40,000 crore. This initiative is expected to be a game-changer for the state’s economy and has been hailed as a step towards transforming the region. The Chief Minister of Assam, Himanta Biswa Sarma, expressed his gratitude to Prime Minister Narendra Modi for his unwavering support and guidance in this venture, recognizing the immense potential it brings to the state.

To promote self-employment and make the youth of Assam self-reliant, the Chief Minister’s Atmanirbhar Assam Abhiyan was launched on September 23. As part of this initiative, the government aims to empower two lakh young individuals to venture into entrepreneurship. Under the Abhiyan, eligible beneficiaries will receive a combination of government grants and interest-free government loans amounting to INR 2 lakhs. This financial support is intended to help them establish micro-enterprises or service units.

The Chief Minister emphasized that the main objective of the Atmanirbhar Assam Abhiyan is to provide a boost to the youth of the state, enabling them to become financially independent and eligible for further loans from the central government. Each of the two lakh identified beneficiaries will receive a government subsidy of INR 1 lakh, while the remaining INR 1 lakh is to be repaid after five years of successful business operations, without any interest.

Since the launch of the scheme, the web portal created for the Mukhya Mantri Atmanirbhar Asom has witnessed an impressive registration of 2,29,145 beneficiaries. Additionally, special provisions have been made for 1591 youth with professional degrees, allowing them to apply for loans amounting to INR 5 lakhs. This particular loan will be divided into a 50% government subsidy and a 50% interest-free loan, further supporting the entrepreneurial aspirations of the state’s educated youth.

Apart from these initiatives, Chief Minister Sarma highlighted the state’s robust industrial climate. Assam has already witnessed significant industrial growth, attracting investments from various sectors. The establishment of the Tata Group’s semiconductor processing plant will contribute to the overall development and further strengthen the industrial landscape of the region. This move not only provides employment opportunities but also enhances technological advancements in Assam.

Tata Group’s application to set up a semiconductor processing plant in Assam marks a pivotal moment in the state’s economic and industrial growth. Through initiatives like the Atmanirbhar Assam Abhiyan, the government aims to empower the youth, promote self-employment, and create a self-reliant ecosystem. With the support of Prime Minister Narendra Modi and the constant guidance of the Chief Minister, Assam is poised to witness significant progress in the coming years. The establishment of the semiconductor processing plant will not only bring massive investments to the state but also contribute to technological advancements and employment opportunities. It is a testament to the growing potential and determination of both Tata Group and Assam as they work hand in hand towards a prosperous future.

Technology

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