Cabinet Approves ₹3,300 Crore Semiconductor Facility by Kaynes Semicon in Gujarat

Tags: Economy/Finance State News

The Cabinet has approved Kaynes Semicon Pvt Ltd's proposal to establish a semiconductor unit in Sanand, Gujarat.

An Overview of the News

• The aim is to foster a vibrant semiconductor ecosystem. The investment for this unit will be ₹3,300 crore.

• The unit will have a production capacity of 60 lakh chips per day. The chips produced will serve various sectors, including industrial, automotive, electric vehicles, consumer electronics, telecom, and mobile phones.

• The Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India, launched in December 2021, has a total outlay of ₹76,000 crore.

• Construction of four semiconductor units is advancing rapidly, with a combined investment of nearly ₹1.5 lakh crore.

• The total production capacity of these units will be approximately seven crore chips per day.

About Gujarat

• Founded: May1, 1960

• Previous State: Bombay State

• Capital: Gandhinagar

• Official Bird: Greater flamingo

• Chief Minister: Bhupendrabhai Patel

• Governor: Acharya Devvrat