Made in India “Semiconductors” – A reality NOW!
India’s one of the most industrially forward states, Gujarat is host to a major global conglomerate’s investment of Rs. 1.54 L crore for setting up a semiconductor production unit. This deal is slated to create 1Lakh direct and 3 Lakh indirect jobs.
Indeed, it’s a breakthrough in the industrial landscape of India. This is the outcome of the Government of India’s policy announcements for electronics manufacturing and the PLI scheme to incentivize the sector and to ensure that “Atmnirbhar Bharat” moves to the next level of implementation.
An MoU (Memorandum of Understanding) to this effect was signed on Tuesday, September 13 which was inked by Gujarat Government. The unit is for the manufacture of semiconductors and display FAB units in a joint venture between Vedanta and Taiwanese Joint Venture Firm Foxconn.
“This MoU is an important step in accelerating India’s semiconductor manufacturing ambitions. The investment of Rs. 1.54 Lakh crore will create a significant impact in boosting the economy.”
– Narendra Modi, Prime Minister of India
The mining giant Vedanta will hold a 60% stake in the joint venture while the Taiwanese chipmaker will own the balance of 40%. The JV becomes the fourth to announce plans under the Rs. 76,000 crores production-linked incentive (PLI) scheme to foster chip-making capabilities in the country.
Semiconductors are employed in the manufacture of various kinds of electronic devices, including diodes, transistors, and integrated circuits. Such devices have found wide application because of their compactness, reliability, power efficiency, and low cost. Semiconductors have a unique atomic structure that allows their conductivity to be controlled by stimulation with electric currents, electromagnetic fields, or even light.
It is worth noticing that India has successfully landed this much sought-after investment after international business houses started looking at alternatives to China. It’s a big win for the Government of India and a bigger win for Apnu Gujarat!
Till now, apart from the US and Asian countries, such as Taiwan, China, South Korea, and Japan, are the biggest semiconductor producers in the world. Taiwan, China, and South Korea foundry companies account for 87% of the global market.
@BienuVarmaVaghela
Keywords:
#AtmnirbharBharat #JointVenture #Vedanta #Foxconn
#Semiconductor #Gujarat #India #MoU