(MENAFN- KNN India)
New Delhi, Sep
3 (KNN) In a major move to strengthen India's Semiconductor ecosystem, the Union Cabinet, led by Prime Minister Narendra Modi, approved Kaynes Semicon Pvt. Ltd.'s plan to establish a new semiconductor assembly, testing, marking, and packaging (ATMP) unit in Sanand, Gujarat.
Announced on Tuesday, September 2, this project marks a significant step in India's Semiconductor Mission.
The Kaynes ATMP unit will be set up with an investment of nearly Rs 3,300 crore, covering 46 acres in Sanand. The facility will have the capacity to produce 6.3 million chips daily, or over 60 lakh chips, catering to diverse sectors such as industrial, automotive, electric vehicles, consumer electronics, telecom, and mobile phones.
This wide application range highlights the unit's potential to support multiple industries and reduce India's dependency on imported semiconductors.
This initiative is a part of the Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India, launched in December 2021 with a total outlay of Rs 76,000 crore.
The approval for the Kaynes unit follows earlier government endorsements in June 2023 and February 2024 for setting up semiconductor plants in Gujarat and Assam, including a Tata Electronics unit in Dholera and a CG Power facility in Sanand.
Together, these four semiconductor units are expected to manufacture about 7 crore chips per day and bring in an investment close to Rs 1.5 lakh crore. The rapid development of these units is fostering a robust semiconductor ecosystem in India.
“Construction of all four semiconductor units is progressing at a rapid pace, creating a strong ecosystem around them,” the Cabinet's press release stated.
The establishment of these facilities aligns with India's 'Atmanirbhar Bharat' vision, aiming for self-reliance in key technologies.
As these semiconductor units become operational, India is set to enhance its position as a global semiconductor hub, creating high-tech jobs and boosting economic growth.
India's drive to develop its semiconductor industry is a crucial step in reducing reliance on imports, enhancing supply chain resilience, and positioning itself as a significant player in the global technology landscape.
(KNN Bureau)
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