Chip plants to make India a hub, foster innovation: PM Modi
NEW DELHI : Prime Minister Narendra Modi laid the foundation stone for three semiconductor projects worth about ₹1.25 trillion on Wednesday, saying chip manufacturing will take India towards self-reliance and modernity. “India is set to become a prominent semiconductor manufacturing hub. The three facilities will drive economic growth and foster innovation," he said in a virtual address during the foundation ceremony.
Among the three projects is India’s first commercial semiconductor fabrication unit to be set up by Tata Electronics Pvt. Ltd (TEPL) and Taiwan’s Powerchip Semiconductor Manufacturing Corp. (PSMC), which the PM said will play a key role in making India a semiconductor hub.
Foundation stones were laid for the ₹91,000-crore semiconductor fabrication facility by TEPL-PSMC at the Dholera Special Investment Region (DSIR), Gujarat; a ₹27,000-crore outsourced semiconductor assembly and test (OSAT) facility at Morigaon, Assam also by TEPL; and a ₹7,600-crore OSAT facility at Sanand, Gujarat, by CG Power and Industrial Solutions, in a joint venture with Renesas Electronics Corporation of Japan and Stars Microelectronics of Thailand. The Centre and state governments will together provide a subsidy of nearly 70% of the cost of setting up these plants. “We’re not just making investments; we’re also spending heavily to promote research and innovation in the semiconductor sector.
Today is a historic day. These projects in Gujarat and Assam will make the country a manufacturing hub for the world," Modi said. The three facilities will be in addition to American chipmaker Micron Technology’s high-end semiconductor packaging and testing unit at Sanand, with an investment of $2.5 billion.
Read more on livemint.com
