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Market Chatter: Tata's Upcoming Semiconductor Plant in Assam to Get INR140.4 Billion Government Incentive

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Indian conglomerate Tata Group's upcoming 270 billion Indian rupees semiconductor plant in Assam, India, will receive an incentive of 140.4 billion rupees from the state government, according to a report in The Economic Times on Thursday.

In a written reply to a question in the State Assembly on Thursday, Industries, Commerce and Public Enterprises Minister Bimal Borah said the central government will provide around 102.6 billion rupees as an incentive to the Tata Electronics facility, the report said.

The Assam state government has also sanctioned 37.9 billion rupees for the project, Borah said.

The plant is estimated to generate a total employment of over 27,000, including 15,000 direct jobs.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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