Business News | PM Modi to Inaugurate Rs 3,300 Crore Kaynes Semicon Plant in Gujarat's Sanand Tomorrow: Arjun Modhwadia
Get latest articles and stories on Business at LatestLY. Speaking to ANI, Modhwadia said, "In the semiconductor manufacturing chain, Prime Minister Narendra Modi will tomorrow inaugurate a Rs 3,300 crore Kaynes Semicon plant in Sanand. This will be the second plant in the series, and the facility will manufacture more than 7 lakh chips per day." He added that the project represents India's entry into a new technological era and reflects the Prime Minister's approach of converting challenges into opportunities.
Gandhinagar (Gujarat) [India], March 30 (ANI): Prime Minister Narendra Modi will inaugurate a Rs 3,300 crore Kaynes Semicon plant in Sanand, Gujarat on Tuesday marking a significant step in India's efforts to build a domestic semiconductor manufacturing ecosystem, Gujarat's Science and Technology Minister Arjun Modhwadia said on Monday.
Speaking to ANI, Modhwadia said, "In the semiconductor manufacturing chain, Prime Minister Narendra Modi will tomorrow inaugurate a Rs 3,300 crore Kaynes Semicon plant in Sanand. This will be the second plant in the series, and the facility will manufacture more than 7 lakh chips per day."
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He added that the project represents India's entry into a new technological era and reflects the Prime Minister's approach of converting challenges into opportunities.
"With this second unit, we are entering the era of this futuristic industry. The USP of the Prime Minister has been his ability to turn challenges into opportunities," Modhwadia told ANI.
Referring to the disruptions during the COVID-19 pandemic, the minister said, "During the COVID period, semiconductor manufacturing across the world had come to a halt. At that time, the Prime Minister resolved that India should become a hub for semiconductor manufacturing, and today 10 such units are being set up in the country."
According to Modhwadia, Gujarat has emerged as a key hub for these investments, with several projects concentrated in Sanand.
"Out of these 10 units, four units worth Rs 1.24 lakh crore are being built in Gujarat, and three of them are coming up in Sanand," he said.
The minister said the developments would strengthen India's position in the global semiconductor ecosystem while boosting domestic electronics manufacturing.
"Because of this, India will take a leading role globally in this futuristic industry. Not only that, semiconductors -- the most important part of the electronics manufacturing chain -- will begin to be produced domestically," he said.
He also noted that the growth of the semiconductor sector would create large employment opportunities and support related industries.
"In the coming years, we will move ahead with forward and backward integration of related industries, and it will generate employment for lakhs of young people," Modhwadia said.
Highlighting the long-term vision, he said the semiconductor and electronics component sectors would play a key role in India's development goals.
"As we move towards the vision of Viksit Bharat 2047, the semiconductor and electronics component manufacturing industries will play a crucial role, and India will be able to emerge as a leader in these sectors," he added. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)