8 things to know about Tata Group's foray into semiconductor manufacturing

3 - Pegging the market opportunity of high-tech manufacturing of electronics at USD 1 trillion, Chandrasekaran stated that alterations to the global supply chains, which are heavily dependent on China, amid COVID-19 pandemic and geopolitical changes, will make businesses shift their reliance on other countries and called this a huge opportunity for India, which becomes the second base.

4 - He said that India can "significantly benefit from the geopolitical shifts that we are seeing".

5 - "At the group, we have already set up a business to seize the promise of high-tech manufacturing of electronics, precision manufacturing, assembly and testing and semiconductors in the medium term," he said.

6 - The announcement comes at a time when the world’s biggest chipmakers have warned that the shortage will extend into 2022. The coronavirus pandemic has stressed semiconductor supply across the globe.

7 - A chip, an essential component of gadgets, consists of millions of transistors and resistors that make computing possible. The process of making it has become more complex as the world gets smarter. Chips are made at cutting-edge facilities known as semiconductor fabrication units or simply fabs. These fabs have to be retooled every couple of years to stay competitive and it costs big money.

8 - Taiwan is the world’s biggest maker of semiconductors, with a market share of over 50 percent. Taiwan Semiconductor Manufacturing Company (TSMC) is the world's top chip-maker and a national asset. It makes chips for Apple, AMD, Nvidia, MediaTek, Qualcomm, and many more.