Tata and ASML Sign Semiconductor Deal During Indian Prime Ministers Visit

Prime Minister Narendra Modi met with Dutch Prime Minister Rob Jetten during a recent European tour, discussing various topics including defense and security. A separate agreement was announced between Tata Electronics and ASML, a leading technology company from the Netherlands.

Tata Electronics plans to invest $11 billion in a semiconductor facility in Dholera, Gujarat, which will manufacture chips for artificial intelligence, automotive industries, and other sectors. ASML has agreed to provide cutting-edge chipmaking tools to support the development of the plant. The Dutch company stated that it sees “many compelling opportunities” in India’s growing semiconductor industry.

ASML CEO Christophe Fouquet expressed commitment to establishing long-term partnerships in the region. The deal comes as India and the Netherlands aim to deepen economic ties, with New Delhi seeking foreign technology and investment to boost manufacturing and create jobs.

During his visit, Modi also addressed members of the Indian diaspora and is expected to inspect centuries-old Chola copper plates being returned to India by Leiden University. Indian and Dutch officials are discussing a more flexible visa arrangement for Indian students and workers in the Netherlands. The Prime Minister will next travel to Sweden for talks with Prime Minister Ulf Kristersson focused on trade, innovation, and green technology cooperation.

Modi’s visit marks his second trip to the country since attending the first India-Nordic summit in 2018.

Source: Al Jazeera