• Source:JND
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Prime Minister Narendra Modi on Wednesday laid the foundation stone of three semiconductor projects worth Rs 1.23 lakh crore in several states of India through video conferencing. Addressing the public during the event, PM Modi called it a historic day. "Today is a historic day. Today, we are also scripting history and taking a strong step ahead towards a bright future," he said.

The three key projects, launched today, include the semiconductor fabrication facility at the Dholera Special Investment Region (DSIR), Gujarat; Outsourced Semiconductor Assembly and Test (OSAT) facilities at Morigaon in Assam, and Sanand in Gujarat.

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“13th March 2024 - a special day in India's efforts to become a hub for semiconductors. Tomorrow will take part in the ‘India’s Techade: Chips for Viksit Bharat’ programme and lay the foundation stones for three semiconductor facilities worth over Rs. 1.25 lakh crore,” PM Modi posted on X.

“Among the highlights of the programme will be the participation of students from over 60,000 institutions. I would urge youngsters, and particularly those passionate about tech, to join tomorrow's programme,” he added.

The semiconductor fabrication facility at the Dholera Special Investment Region (DSIR) will be established by Tata Electronics Private Limited (TEPL) at an estimated cost of Rs 91,000 crore. This facility will be making the semiconductors.

The Outsourced Semiconductor Assembly and Test facility in Morigaon will be developed by Tata Electronics Private Limited (TEPL) with an investment of Rs 27,000 crore. This will be for semiconductor assembly, testing, marking and packaging.

The OSAT facility in Sanand will be established by CG Power and Industrial Solutions Limited at an estimated cost of Rs 7,500 crore.

The government days back approved major investment in this sector intending to domestically produce chips.

“On one end India has a large and growing domestic demand and on the other end global customers are looking at India for supply-chain resilience,” Frank Hong, chairman of Taiwan-based foundry Powerchip Semiconductor (PSMC), a partner in the new fab, said in a press release.

“There could not have been a better time for India to make its entry into the semiconductor manufacturing industry,” he added.

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Several state governments have also offered lucrative offers to the corporate giants for setting up semiconductor industries.