The Union Cabinet, chaired by Prime Minister Narendra Modi, on Monday approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand, Gujarat, with an investment of Rs 3,300 crore.
The proposed unit, under the India Semiconductor Mission (ISM), will produce nearly 60 lakh chips per day. The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom and mobile phones, etc.
According to PM Modi, the country has the potential to fulfil the dream of developing a ‘Made in India’ chip for every piece of equipment. The first indigenously-developed chip is set to arrive in the country by the end of this year.