The Union Cabinet, chaired by Prime Minister Narendra Modi, on Monday approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand, Gujarat, with an investment of Rs 3,300 crore.
The proposed unit, under the India Semiconductor Mission (ISM), will produce nearly 60 lakh chips per day. The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom and mobile phones, etc.
According to PM Modi, the country has the potential to fulfil the dream of developing a ‘Made in India’ chip for every piece of equipment. The first indigenously-developed chip is set to arrive in the country by the end of this year.
In March, PM Modi laid the foundation stone of three semiconductor projects worth Rs 1.25 lakh crore.
Tata Electronics is setting up a semiconductor fab in Dholera, Gujarat and one semiconductor unit in Morigaon, Assam. CG Power is setting up one semiconductor unit in Sanand. These units will produce lakhs of direct and indirect jobs.
According to the Ministry of Electronics and IT, construction of all four semiconductor units is progressing at a rapid pace and a robust semiconductor ecosystem is emerging near the units.
“These four units will bring an investment of almost Rs 1.5 Lakh crore. The cumulative capacity of these units is about 7 crore chips per day,” according to the ministry.
The Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India was notified in 2021 with a total outlay of Rs 76,000 crore.
As per reports, India's semiconductor-related market will reach $64 billion in 2026, nearly triple the size in 2019.
Union Railways and IT Minister Ashwini Vaishnaw said recently that in the next five years, the country will become one of the biggest semiconductor hubs in the world.
Eager to join Assam’s transformational journey: Gautam Adani
Assam is on a path to greatness amid several ongoing transformative projects and we are honoured to walk this path alongside you, Gautam Adani, Chairman of the Adani Group, said here on Tuesday.
Andhra announces Rs.10 lakh each for kin of three people killed by elephants
The government of Andhra Pradesh has announced Rs.10 lakh compensation each for the kin of the three devotees trampled to death by a herd of wild elephants in Annamayya district in the early hours of Tuesday.
Delhi CM Rekha Gupta tables CAG report in Assembly; Speaker says 'blocking it a criminal offence'
Delhi Chief Minister Rekha Gupta on Tuesday tabled the Comptroller and Auditor General (CAG) report in the Assembly, amid constant rounds of political sparring and squabbling between Aam Aadmi Party (AAP) and the BJP.
Crime rate in Bangladesh surges under Yunus-led interim government
The crime rate in Bangladesh is increasing at an alarming rate, according to the police data, which shows that in January, cases of murder, abduction, robbery, burglary, and theft have all seen a spike across the country and have been the worst compared to the last six years.
Adani Group to invest Rs 50,000 crore in Assam to boost infra, create jobs
The Adani Group on Tuesday announced a massive Rs 50,000 crore investment in Assam, marking one of the highest-ever investment commitments by a business group to the state.
Today, the world trusts India's governance which is constantly reforming: PM Modi
Prime Minister Narendra Modi, while addressing the Advantage Assam Summit in Guwahati on Tuesday, highlighted India’s growing global influence, robust economic policies, and the state's rapid development under the double engine government of the BJP.
Advantage Assam: PM Modi hails role of Northeast in building prosperous India
Prime Minister Narendra Modi inaugurated the Advantage Assam 2.0 investors' summit in Guwahati on Tuesday, emphasizing that Eastern India has always played a crucial role in shaping a prosperous India.
Delhi Assembly: 12 AAP MLAs suspended for the day
A total of 12 Aam Aadmi Party (AAP) MLAs were suspended from the Delhi Assembly for unruly behaviour during the Lt. Governor's address on Tuesday.