Gujarat CM expresses gratitude to PM Modi following Cabinet's approval of fourth semiconductor plant

Sanand (Gujarat) [India], September 2 (ANI): Following the Union Cabinet approval for the establishment of one more semiconductor manufacturing plant under the chairmanship of Prime Minister Narendra Modi in Gujarat's Sanand on Monday, Gujarat Chief Minister Bhupendra Patel expressed his heartfelt gratitude towards PM Modi and for his commitment to accelerate the creation of a semiconductor ecosystem in the state.
The manufacturing plant will be established under the India Semiconductor Mission and will be set up by Keynes Semicon Pvt Ltd, which proposed an investment of Rs 3300 crore for the project.
Patel also stated that the state is rapidly moving in the direction of becoming a semiconductor hub under the leadership of PM Modi.
"For this purpose, after his approval for setting up Micron's first semiconductor plant at Sanand in 2023 and Tata Electronics' semiconductor plant at Dholera in February 2024, he has approved CG Power for this type of plant in Sanand. Now this fourth plant in Gujarat will be established in Sanand by Keynes Semiconductor Private Limited. As a result of this, employment opportunities will also expand," Patel added.
Under the India Semiconductor Mission, the central government made a provision of Rs 76,000 crores to boost the semiconductor and display manufacturing ecosystem in India.
So far, under this mission, the work of setting up four semiconductor manufacturing projects in the country is underway, out of which three will be set up in Gujarat and one in Assam.
Construction of these semiconductor units is progressing at a rapid pace and a robust semiconductor ecosystem is emerging near the units. They will bring an investment of almost Rs 1.5 lakh crore and the cumulative capacity of these units is about 7 crore chips per day.
Semiconductors are crucial for modern society and are needed for manufacturing an array of devices including phones, medical devices, cars and electronic gadgets. As per media reports, approximately 70 per cent of total manufacturing capacity is concentrated in South Korea, Taiwan, China, the US, and Japan.
India will soon start commercial production of semiconductors and related products and become a global power in this sector similar to technology, nuclear, and digital spaces, said Prime Minister Narendra Modi earlier this year, as he laid the foundation stones for the three semiconductor plants. India has lost decades in semiconductor manufacturing and now is the time to move ahead, he had said.
As part of its Atmanirbhar and Make in India plan, the government launched production incentive (PLI) schemes in varied sectors, including electronics, to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports. (ANI)