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PM to lay foundation stone of 3 semiconductor projects worth Rs 1.25 lakh crore on Wednesday

This initiative will help position India as a key player in the global semiconductor sector. PM Modi will address the youth and engage with college students and industry professionals.

Written By: Om Gupta New Delhi Published on: March 12, 2024 22:28 IST
semiconductor chip plants
Image Source : FREE PIK Chip plants

Prime Minister Narendra Modi will lay the foundation stone of three semiconductor projects worth Rs 1.25 lakh crore this Wednesday through video conferencing. This initiative will help establish India as a key player in the global semiconductor sector.

PM Modi will also address the nation's youth and will engage with a vast audience that includes college students and semiconductor industry professionals.

The groundbreaking ceremonies will mark the start of:

- A semiconductor fabrication unit in Dholera Special Investment Region, Gujarat.

- An Outsourced Semiconductor Assembly and Test (OSAT) facility in Morigaon, Assam.
- Another OSAT facility in Sanand, Gujarat.

Tata Electronics will develop the Dholera site as India's inaugural commercial semiconductor fabrication plant, representing an investment exceeding Rs 91,000 crore.

The Morigaon OSAT facility, also by Tata Electronics Private Limited, will be established under the Modified Scheme for Semiconductor Assembly, Testing, Marking, and Packaging (ATMP), with an investment of around Rs 27,000 crore.

CG Power and Industrial Solutions Limited will construct the Sanand OSAT facility, investing about Rs 7,500 crore.

These ventures are set to fortify India's semiconductor infrastructure and provide a robust foundation for the industry's growth within the nation.

Moreover, they are expected to generate thousands of job opportunities for the youth in the semiconductor field and spur further employment in associated industries such as electronics and telecommunications.

Meanwhile, the Union Cabinet of India recently approved a national-level IndiaAI mission with a budget of Rs 10,371.92 crore in order to encourage the development of artificial intelligence (AI) in the country. The mission aims to drive innovation in the field of AI by establishing a comprehensive ecosystem that will promote AI innovation through strategic programs and partnerships across both public and private sectors. This move is expected to give a much-needed boost to the AI industry in India.

ALSO READ: India gets 3 new semiconductor fab units, to start construction within next 100 days

Inputs from IANS

 

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