India's Semiconductor Boom: Four New Projects Approved

The Union Cabinet has given the green light to four semiconductor projects in the states of Odisha, Punjab, and Andhra Pradesh, according to Information & Broadcasting Minister Ashwini Vaishnaw. These projects fall under the ambit of the India Semiconductor Mission, boasting an impressive financial layout of Rs 76,000 crore aimed at boosting domestic chip production capabilities.

A notable project will see a silicon carbide semiconductor plant established in Bhubaneswar, Odisha, with an investment of Rs 2,066 crore by SiCsem Pvt Ltd. Additionally, a significant 3D Glass semiconductor manufacturing plant is set to rise with an investment of Rs 1,943 crore, supported by investments from renowned US technology firms like Intel and Lockheed Martin.

Further diversification of semiconductor services will occur with a chip packaging plant in Andhra Pradesh, spearheaded by Advanced System in Package Technologies Pvt Ltd with a Rs 468 crore investment. Likewise, Punjab will witness the setting up of a semiconductor facility by electronic component maker CDIL, supported by a Rs 117 crore investment.

(With inputs from agencies.)