PM Narendra Modi-Led Cabinet Approves Kaynes Semicon Pvt Ltd To Setup Semiconductor Unit in Sanand, Gujarat With an Investment of INR 3,300 Crore

New Delhi, September 2: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Monday approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand, Gujarat, with an investment of Rs 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. According to PM Modi, the country has the potential to fulfil the dream of developing a 슬롯사이트˜Made in India슬롯사이트� chip for every piece of equipment. The first indigenously-developed chip is set to arrive in the country by the end of this year.슬롯 머신 사이트 추천PM Narendra Modi Hints at Returning To Power in 2029, Says 슬롯사이트˜India슬롯사이트™s Best Is Yet To Come슬롯사이트� at 5th Global Fintech Fest in Mumbai.

In March, PM Modi laid the foundation stone of three semiconductor projects worth Rs 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. 슬롯사이트œThese 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,슬롯사이트� according to the ministry.슬롯 머신 사이트 추천Global Fintech Fest 2024: PM Narendra Modi Hails Bharat슬롯사이트™s Fintech Innovation, Says Industry Received Record USD 31 Billion Investment in Last 10 Years (Watch Video).

The Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India was notified in 2021 with a total outlay of Rs 76,000 crore. As per reports, India's semiconductor-related market will reach $64 billion 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.

(The above story first appeared on LatestLY on Sep 02, 2024 04:42 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).