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Sunday, April 21, 2024

PM Modi aims to turn India into a hub for chip plants and foster innovation

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In Short:

India is set to become a top spot for semiconductor manufacturing, with three key facilities being established. This includes India’s first commercial semiconductor unit by TEPL and PSMC, expected to boost economic growth and innovation. The total investment from these projects is around ₹1.5 trillion. PM Modi expressed confidence in making India a global manufacturing hub, focusing on creating jobs and reducing dependence on international supply chains.

India’s Semiconductor Manufacturing Hub Dream Becomes a Reality

Exciting news from India as the country is on the brink of becoming a prominent semiconductor manufacturing hub, paving the way for economic growth and innovation. The Prime Minister made this significant announcement during a virtual address at the foundation ceremony.

New Semiconductor Facilities

India is all set to welcome three new semiconductor facilities, including the country’s first commercial semiconductor fabrication unit. Tata Electronics Pvt. Ltd (TEPL) and Taiwan’s Powerchip Semiconductor Manufacturing Corp. (PSMC) are joining forces to establish this groundbreaking unit, which is crucial for India’s semiconductor hub ambitions.

The foundation stones have been laid for:

  • ₹91,000-crore semiconductor fabrication facility by TEPL-PSMC in Dholera, Gujarat
  • ₹27,000-crore outsourced semiconductor assembly and test (OSAT) facility by TEPL in Morigaon, Assam
  • ₹7,600-crore OSAT facility at Sanand, Gujarat, by CG Power and Industrial Solutions in a partnership with Renesas Electronics Corporation of Japan and Stars Microelectronics of Thailand

Government Support and Investment

The Centre and state governments are providing a subsidy of nearly 70% of the setup costs for these plants, showing a strong commitment to the growth of the semiconductor industry in India.

Milestone Achievements Ahead

By 2026, the first chip from the Dholera plant is expected to roll out, followed by the Sanand plant in 2024. These developments are estimated to bring significant advancements to India’s semiconductor manufacturing landscape.

Job Creation and Sector Impact

The semiconductor facilities are projected to generate over 50,000 jobs, with plans to produce chips for major companies like IBM and Tesla. This initiative not only strengthens the semiconductor industry but also impacts various sectors like automotive, power, electronics, consumer goods, and medical technology.

Proud Vision for India’s Future

Prime Minister Modi highlighted the critical role these semiconductor projects will play in India’s future development and its ability to compete globally. With a clear focus on Industry 4.0, India aims to lead the way in modern technological advancements and secure a strategic position in the semiconductor sector.

Looking Towards a Brighter Tomorrow

Through these significant advancements, India is on the path to becoming a global power in semiconductor manufacturing, ensuring a reliable supply chain and a thriving semiconductor industry within the country. The future looks promising for India’s economic growth and technological innovation.

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