Gujarat eyes 1,500 apartments to house Tata fab staff, suppliers
ETtech
Live Events
The Gujarat government is enabling the setting up of 1,500 residential units to house expats and other employees of the Tata Group and its suppliers at Dholera in Ahmedabad district where the conglomerate is building India's first semiconductor fabrication unit."There is an availability of about 275 apartments currently of which about 250 have been occupied by the Tata Group and their suppliers and other ecosystem companies, while 225 are nearing completion," said Mona Khandhar, principal secretary at the Department of Science and Technology in Gujarat. "They are in Dholera, in the vicinity of the upcoming fab and have been occupied by the teams presently stationed there."Apart from these 500 units, construction has begun for another 1,000 apartments which will be available by around February-March next year, she said. These are like serviced apartments and come with one, two or three bedrooms.These facilities are being built in the Dholera Special Investment Region. Tata Electronics' upcoming Rs 91,000 crore fab is expected to generate more than 20,000 direct and indirect skilled jobs.Speaking at the ground-breaking ceremony of the Tata unit at Dholera in March 2024, union minister for electronics and information technology Ashwani Vaishnaw predicted that the first chip from Dholera would be out by December 2026."The Gujarat government has not built these (residential) facilities directly," Khandhar said. "The plots have been auctioned by the special purpose vehicle set up by the Gujarat government and private developers have taken on the projects. These apartments are different from the ones that the Tata Group is looking to set up on their own."In the first phase, 10 acres have been allotted to the Tata Group and it is expected that they will complete 530 apartments by mid-2027, she said."Since the Tata Group is an anchor investor, whenever they need to be consulted, we consult them so that everyone works in tandem," she said.The Gujarat government is also providing support by building facilities for the employees of Tata Group and its suppliers, many of whom are expats. A fire station, school, hospital, desalination plant, hotel and other amenities like a 'Global Tent City' are also being set up there.ET reported on March 29 that the Gujarat government was aiming to recreate the 'look and feel' of the home countries of the expats in Dholera. The Global Tent City, for instance, is expected to house food streets from Taiwan, Korea, Japan, the US and some European nations. A high-end mall and a hotel or guesthouse will also come up there.Tata Electronics has been hiring top executives from chip makers like Intel and GlobalFoundries. ET reported on May 26 that the company had hired Tim McIntosh from Intel as vice-president and head of operations and manufacturing excellence of Tata Semiconductor Assembly and Test (TSAT).Tata Electronics chief executive and managing director Randhir Thakur too had come from Intel. In April, the company appointed GlobalFoundries' Asia president KC Ang as president and head of Tata Semiconductor Manufacturing.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
24 minutes ago
- Business Standard
₹8 Cr credit, 0 forex, VIP lounges-Inside Kotak's invite-only banking club
olitaire isn't something you apply for. You're invited, and that too based not merely on account balances, but on something Kotak calls Total Relationship Value Sunainaa Chadha NEW DELHI Kotak Mahindra Bank on Friday launched Kotak Solitaire—an invitation-only banking experience designed for India's truly affluent families. But unlike premium accounts you can walk in and open, Solitaire isn't for everyone. You don't apply. You're invited. A Banking Experience You Can't Buy Into—Only Belong To Solitaire is invitation-only, reserved for individuals and families with a deep, multi-dimensional financial relationship with Kotak. It's not about account balances—it's about Total Relationship Value across deposits, investments, loans, insurance, and demat holdings offered by the Bank and it is calculated at a family level. 'Solitaire recognizes success, respects ambition, and reimagines what banking should feel like,' said Rohit Bhasin, President - Head of Affluent, NRI, and Business Banking at Kotak Mahindra Bank. Why it matters for affluent families For India's fast-growing wealthy segment, standard banking no longer meets elevated expectations. Through in-depth research, Kotak found affluent customers felt largely invisible—underserved, with fragmented experiences across product lines and little personal recognition. Solitaire seeks to change that with features such as: ₹8 Crore Pre-Approved Credit Lines across home, personal, and credit card loans Family-First Banking, including shared privileges and credit limits Segment-Specific Offerings tailored to salaried professionals and entrepreneurs Dedicated Relationship Managers for high-touch service A unified platform across Kotak's banking, wealth, and insurance products Solitaire Credit Card: The Lifestyle Enabler The invite-only Solitaire Credit Card brings more than luxury—it delivers loyalty rewards and savings designed for families: Zero forex markup, making it ideal for international travel 10% Airmiles on travel spends, with a cap of ₹1 lakh Airmiles per statement cycle Unlimited lounge access, even for add-on cardholders and their guests No annual fee, and generous redemption options across airlines and hotels Fuel surcharge waived for transactions up to Rs 7500 'This card doesn't just reward you—it respects your journey,' said Frederick Dsouza, Business Head – Credit Cards. 'It's designed for those who've earned their place at the top—and want their family to enjoy the same level of service and recognition.' Solitaire is Kotak's way of saying, 'We see you'—not just your money. But it's not for everyone. You can't apply. You must be invited. And that exclusivity? That's exactly the point. Is it worth it? If you qualify, the benefits are compelling: preferential service, curated offers, significant credit access, and family-first design. For frequent fliers, business families, and those managing multi-asset portfolios, Solitaire may offer more value—and dignity—than legacy wealth programs. But the exclusivity comes at a cost: you can't apply. That means the average high-income earner—even with a seven-figure salary—might not be eligible without deep, multi-layered engagement with Kotak. Still, for India's truly affluent families, Solitaire may be one of the few banking programs that finally speaks their language—discreet, discerning, and deeply personal.
Mint
24 minutes ago
- Mint
Iran Meets UK, France and Germany for Nuclear Talks
(Bloomberg) -- Iranian and European officials held nuclear talks in Istanbul on Friday as tensions simmer over Tehran's nuclear program after it was targeted by a US military strike last month. Diplomats from the Islamic Republic met with counterparts from the UK, France and Germany — the so-called E3 bloc of top European economies — at around 10:30 a.m. local time to try and ease a standoff over Iran's atomic activities. The talks come about a month after the US bombed three key nuclear sites in Iran, triggering a break in international inspections of its atomic activities and raising questions over the whereabouts of its stockpile of enriched uranium. The strike also derailed separate nuclear negotiations between the Islamic Republic and the Trump administration. The E3 helped broker a 2015 nuclear deal — known formally as the Joint Comprehensive Plan of Action — with Iran that imposed strict limits on Tehran's atomic work in exchange for sanctions relief. Friday's talks are important because they could delay any effort by the Europeans to 'snap back' broad United Nations sanctions that were lifted as part of that accord. French Foreign Minister Jean-Noël Barrot last week announced the possibility of reimposing the sanctions by the end of August if Iran fails to reach a deal limiting its nuclear program. Iran's Foreign Minister Abbas Araghchi has said that the E3 has lost any right to invoke the JCPOA's snapback mechanism, which expires in October, because it failed to meet its own obligations under the agreement after US President Donald Trump withdrew from it seven years ago. On Wednesday, Iran's Deputy Foreign Minister said Tehran has 'not ruled out' withdrawing from the Treaty on the Non-Proliferation of Nuclear Weapons if the UN were to reimpose sanctions. 'That's still on the table,' Kazem Gharibabadi, who's attending the Istanbul talks, told reporters. 'I'm quite confident that if the snapback is triggered, Iran will not show more restraint in this regard,' he said. --With assistance from Patrick Sykes. (Updates lead to reflect talks have started.) More stories like this are available on
Economic Times
25 minutes ago
- Economic Times
CDSL shares under pressure, slide 3% ahead of NSDL IPO launch on July 30
Shares of Central Depository Services (India) Ltd (CDSL) fell by nearly 3% on Thursday to hit an intraday low of Rs 1,630.40 apiece on the NSE, as investor attention shifted towards the upcoming initial public offering (IPO) of its rival, National Securities Depository Limited (NSDL). ADVERTISEMENT The two companies operate as the only depositories in India and are direct competitors in the capital market infrastructure space. The dip in CDSL's stock comes just days ahead of NSDL's IPO, which is set to open for public subscription between July 30 and August 1. Bidding for anchor investors will take place on July 29. NSDL's IPO has generated strong interest in the grey market, where its shares are trading at a premium of Rs 145–Rs 155, implying a potential listing gain of around 18.13% over the upper end of the price company has fixed its price band between Rs 760 and Rs 800 per share, with a lot size of 18 shares, requiring a minimum investment of Rs 14,400 for retail investors. The total issue size is estimated at Rs 4,011.6 crore. The IPO will be a complete offer for sale (OFS) of up to 5.01 crore equity shares by existing shareholders, including IDBI Bank, NSE, Union Bank of India, SBI, HDFC Bank, and SUUTI. ADVERTISEMENT NSDL will not receive any proceeds from the offering as the issue is entirely an offer for sale. As per the offer document, IDBI Bank will sell 2.22 crore shares, NSE will offload 1.8 crore shares, and Union Bank will sell 5 lakh is aiming for a valuation of Rs 16,000 crore through the public issue. The company had initially filed its Draft Red Herring Prospectus (DRHP) with Sebi in July 2023, and later filed an addendum in May 2025, trimming the issue size from 5.72 crore shares to 5.01 crore shares. ADVERTISEMENT Also read: Kellton Tech, RIR Power Electronics to trade ex-split on Friday. Do you own? Over the past year, shares of Central Depository have gained 37.45%. In the last six months, the stock has risen 9.19%, while it has delivered a 19.8% return over the past three months. However, on a one-month basis, the stock has declined by 6.31%. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
