India Boosts Semiconductor Ecosystem with New Plant in Gujarat

The Indian government, under PM Narendra Modi's leadership, has approved a new semiconductor manufacturing plant by Keynes Semicon Pvt Ltd in Gujarat. With a Rs 3300 crore investment, the plant aims to enhance India's semiconductor ecosystem, generating employment and attracting global investment under the India Semiconductor Mission.

Following the Union Cabinet's approval for another semiconductor manufacturing plant in Gujarat's Sanand, Chief Minister Bhupendra Patel extended his gratitude to Prime Minister Narendra Modi for accelerating the state's semiconductor ecosystem. The project will be spearheaded by Keynes Semicon Pvt Ltd, investing Rs 3300 crore.

Patel highlighted Gujarat's progress towards becoming a semiconductor hub, noting the recent establishment of Micron's plant in 2023 and Tata Electronics' plant in Dholera set for 2024. "The fourth plant by Keynes Semicon will further expand employment opportunities," he said.

Under the India Semiconductor Mission, the government allocated Rs 76,000 crore to bolster semiconductor and display manufacturing nationwide. With projects worth Rs 1.5 lakh crore in progress, India aims to meet its semiconductor needs and emerge as a global leader, reducing reliance on imports.

Construction of semiconductor units is advancing swiftly, with significant strides in Gujarat and Assam. The expected output will reach 7 crore chips per day, catering to a demand that includes phones, medical devices, and gadgets. While 70% of manufacturing is currently in South Korea, Taiwan, China, the US, and Japan, India is set to join these ranks.

Prime Minister Modi emphasized the importance of this initiative, aiming to make India self-reliant in technology and manufacturing sectors through production-linked incentive schemes. The foundation stones of these projects mark India's determined stride towards becoming a global semiconductor powerhouse.

(With inputs from agencies.)