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    Information Technology Minister Ashwini Vaishnaw

    Cabinet Approves Fifth Semiconductor Unit In India

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    By on PRIVATE SECTOR

    (HT)

    The Union Cabinet on Monday approved a proposal by Kaynes Semicon to set up a semiconductor unit in Sanand, Gujarat, with an investment of ₹3,307 crore (US$394.15 million), electronics and information technology minister Ashwini Vaishnaw said.

    This is the fifth semiconductor unit to be approved under the India Semiconductor Mission (ISM), the second to be set up in Sanand. It brings the total investment to ₹1,52,307 crore (US$18.15 billion). The government launched the ISM and the display manufacturing ecosystem with an outlay of ₹76,000 crore in December 2021. On Monday, Vaishnaw said semiconductor industry is a “foundational industry” for India’s domestic manufacturing goals. “This [ISM] is a long programme so there will be an increased outlay for sure and we will come back with the details of the programme as and when they are finalised,” he said.

    The Kaynes Semicon ATMP (assembly, testing, marking and packaging) unit will be able to produce about 6 million chips a day which will be used in industries, automobile sector, electric vehicles, consumer electronics, telecom equipment, and mobile phones.

    Raghu Panicker, the CEO of Kaynes Semicon, said that the new unit will be set up on a 47-50 acre facility in Sanand. “In the last three months, structural tests, soil testing, and levelling were done. Tomorrow, or day after, we will have the approval letter and then we will begin digging. In six to eight months, the clean room will be constructed.” The purchase order for equipment will be released on Wednesday, Panicker said.

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