The company said that it is an outsourced semiconductor assembly and test (OSAT) facility and that plans are afoot to establish a comprehensive research and development centre and have an expanded setup encompassing multi-line OSAT and a fab foundry.

The event, organised at the site of the facility in Jagiroad, witnessed the presence of Chief Minister Himanta Biswa Sarma, who hailed the occasion as a landmark day for Assam and the North East.

In a bid to deepen bilateral ties, India seeks to expand its strategic partnership with South Korea into new frontiers such as critical and emerging technologies, semiconductors, and green hydrogen, External Affairs Minister S Jaishankar emphasized on Wednesday.

India is poised to enter the high-stakes arena of semiconductor manufacturing within the next five years, leveraging its unparalleled design capabilities and lucrative incentives worth USD 10 billion.

On Thursday, the Union Cabinet sanctioned proposals to establish three semiconductor plants, including a mega fab by the Tata Group, with a combined investment of Rs 1.26 lakh crore. This move is part of India's strategy to position itself as a global powerhouse in chip manufacturing.