Business: The Government of India has approved another semiconductor unit in the country. This plant will be set up in Sanand, Gujarat. The central government has said that the country's first semiconductor chip will start being made in mid-2025. This semiconductor unit has been approved on Monday during the cabinet meeting chaired by Prime Minister Narendra Modi. This plant will be set up by Kaynes Semicon. It is considered a big step towards creating a semiconductor ecosystem in India. 

Kaynes Semicon will invest Rs 3,300 crore on this plant

According to the information given by the government, Kaynes Semicon will invest about Rs 3,300 crore on this semiconductor plant. The company claims that it will be able to make 60 lakh chips daily from its plant. The chips made in this plant will be used in many places including industrial, auto sector, electric vehicles, consumer electronics, telecom, mobile phones. The Government of India launched the program for the development of semiconductor and display manufacturing ecosystem on December 21, 2021. This program is worth about Rs 76,000 crore.

Tata Electronics and CG Power are also setting up semiconductor units

In June 2023, the central government approved the first proposal to set up a semiconductor unit in Sanand, Gujarat. After this, three more semiconductor units were approved in February 2024. Among these, Tata Electronics is setting up a semiconductor unit in Dholera, Gujarat and Morigaon, Assam. Recently, Tata Electronics also performed the Bhoomi Pujan program of its plant. Apart from this, CG Power is also setting up a semiconductor unit in Sanand, Gujarat. All of them claim that they will start their production in 2025.

Investment of Rs 1.5 lakh crore in the semiconductor sector will create millions of jobs 

The work of all these semiconductor units is going on at a fast pace. All these units are going to invest about Rs 1.5 lakh crore in the semiconductor sector. Their total production capacity will be about 7 crore chips per day. Apart from this, these semiconductor units will also create lakhs of direct and indirect jobs.