The Union Cabinet today approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand district with an investment of ₹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.

The first indigenously-developed chip is set to arrive in the country by the end of this year.

In March, Prime Minister Narendra Modi laid the foundation stone of three semiconductor projects worth ₹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 ₹76,000 crore.

As per reports, India's semiconductor-related market will reach $64 bn 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.

(This story was taken from a syndicated feed, and edited only for style by Gujarat Samachar Digital staff)