New Delhi, Sep 2 (IANS) 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.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
