Out of a total investment of Rs 1,54,000 crore, Rs 94,000 crore will be spent on setting up the display manufacturing unit, while Rs 60,000 crore will be invested for the semiconductor manufacturing plant.
Indian conglomerate Vedanta and electronics manufacturer Foxconn have signed an MoU with the state government to set up a semiconductor and display FAB manufacturing unit in Gujarat. Explain that semiconductors are used in cars, mobile phones and other electronics devices. At present it is not manufactured in India.
The MoU was signed in the presence of Gujarat Chief Minister Bhupendra Patel and Union Electronics and Information Technology Minister Ashwini Vaishnav at a function held in Gandhinagar, Gujarat on Tuesday. Jitubhai Vaghani, Minister of Education, Science and Technology, Government of Gujarat was also present on the occasion. Congratulating the partnership, Prime Minister Narendra Modi said that this MoU is an important step towards accelerating India’s semiconductor manufacturing ambition. The total investment of Rs 1.54 lakh crore is crucial towards boosting the economy and jobs. It will also create a bigger ecosystem for ancillary industries and will also help our industries.
Chip manufacturing will start in India
Vijay Nehra, State Secretary, Department of Science and Technology, who signed the MoU on behalf of the Gujarat government, said that this is the biggest corporate investment ever in the history of independent India. Nehra told that eight percent of all the chips used in the world are made in Taiwan. It is followed by China and Japan. The upcoming plant will mark the beginning of semiconductor chip manufacturing in India. It is also strategically important for India, as it will reduce our dependence on other countries.
Unit will be established soon
Vijay Nehra said Foxconn is currently evaluating various locations in Gujarat for setting up the plant and the location will be finalized in the next few weeks. The plant will then start production in the next two years. The official said that out of a total investment of Rs 1,54,000 crore, Rs 94,000 crore will be spent in setting up the display manufacturing unit, while Rs 60,000 crore will be invested for the semiconductor manufacturing plant. These two MoUs together will bring investment of more than Rs 1.54 lakh crore to Gujarat and create about 1 lakh new employment opportunities in the state. As per the MoUs signed by both the parties, the Gujarat government will facilitate the investors to get necessary clearances from the concerned departments. Will give
During the MoU exchange ceremony, Bren Ho of Foxconn Company said that the decision to select Gujarat for the potential semiconductor and display fab units has been taken after an analysis of multiple factors by regional experts and a comprehensive analysis of potential project sites in India and across the world.
Semiconductor fab unit will prove to be a game changer for the economy
Apart from making India a global partner in the supply chain, the semiconductor fab unit will prove to be a game changer for the economy. This will create significant employment opportunities for the youth and generate revenue for the state. The proposed semiconductor manufacturing fab unit will operate on 28nm technology nodes with wafer size 300mm and the display manufacturing unit will produce Generation 8 displays for small, medium and large applications.
Self-reliance will come in the field of semiconductor manufacturing
Meanwhile, the Union Minister of Electronics and Information Technology, Ashwini Vaishnav, in his address discussed the importance of this investment as Prime Minister Narendra Modi’s vision for achieving self-reliance in the field of semiconductor manufacturing. He said that this is a right step towards building a trillion dollar digital national economy for Gujarat.
Investor-friendly environment in Gujarat
Vedanta Group Chairman Anil Agarwal said that Gujarat has a long history of investor-friendly environment and strong manufacturing base. Additionally the semiconductor policy recently announced by the state along with excellent incentives in capital, land, water and electricity have made Gujarat a very attractive option for his company. The Government of India under the leadership of PM Modi has taken several important initiatives to reduce the dependence on import of electronic goods, including promotion of domestic manufacturing of electronic, semiconductor products and components.
