India Approves Rs 3,300 Crore Semiconductor Plant in Gujarat

By siliconindia  |  Monday, 02 September 2024, 06:14:05 PM IST

India Approves Rs 3,300 Crore Semiconductor Plant in Gujarat
The Union Cabinet, led by Prime Minister Narendra Modi, has greenlit a proposal by Kaynes Semicon Pvt Ltd to establish a semiconductor manufacturing unit in Sanand, Gujarat, with an investment of Rs 3,300 crore. This new facility, part of the India Semiconductor Mission (ISM), will have the capacity to produce approximately 60 lakh chips daily. These chips will be essential for a range of industries, including automotive, electric vehicles, consumer electronics, telecom, and mobile phones.
Prime Minister Modi emphasized India's potential to achieve the goal of developing a 'Made in India' chip for every piece of equipment, with the first domestically produced chip expected to be available by the end of this year.
Earlier in March, PM Modi laid the foundation for three significant semiconductor projects worth Rs 1.25 lakh crore. Among these, Tata Electronics is setting up a semiconductor fabrication unit in Dholera, Gujarat, and another in Morigaon, Assam, while CG Power is establishing a unit in Sanand. These projects are expected to create numerous direct and indirect job opportunities.
According to the Ministry of Electronics and IT, construction of these semiconductor units is progressing swiftly, contributing to the emergence of a robust semiconductor ecosystem in the region.

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