NEW DELHI, 2nd September, 2024 (WAM) -- Indian Cabinet has approved to set up a semiconductor unit with a capacity to produce six million chips per day in western state of Gujarat, Asian News International (ANI) reported on Monday.
The Cabinet chaired by Prime Minister Narendra Modi on Monday approved the proposal of Kaynes Semicon Pvt Ltd to setup the unit, in line with the objective to develop a vibrant semiconductor ecosystem in the country.
The chips produced in this unit will cater to a wide variety of sectors such as industrial, automotive, electric vehicles, consumer electronics, telecom, and mobile phones. This will be the fifth such unit in the country. Construction of the semiconductor units is progressing at a rapid pace.
India will soon start commercial production of semiconductors and become a global power in this sector, Prime Minister Narendra Modi had said earlier this year, while laying foundation stones for the three semiconductor plants.