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Union Cabinet approves Kaynes Semicon's Gujarat chip unit proposal
Economic Times
·
11m ago
Medial
The Union Cabinet has approved Kaynes Semicon Pvt Ltd's proposal to establish a semiconductor unit in Sanand, Gujarat. Initially planning to set up in Telangana, Kaynes will now invest ₹3,300 crore in Gujarat. The unit will produce chips for industrial, automotive, consumer electronics, telecom, mobile phones, and electric vehicles. This move is part of a larger effort to develop a strong semiconductor ecosystem, with three other units already approved for construction in Gujarat and Assam, amounting to an investment of approximately ₹1.5 lakh crore and a combined capacity of seven crore chips per day.
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Kaynes Buys Land In Gujarat To Build Chip Plant, Eyes Investment Of INR 5,000 Cr
Inc42
·
11m ago
Medial
Electronics manufacturer Kaynes Technology has purchased land in Gujarat's Sanand to establish an outsourced semiconductor assembly and test (OSAT) unit. The company plans to invest INR 5,000 crore ($596 million) in its chip project. Kaynes will continue to operate its Telangana unit, maintaining a couple of chip assembly lines there, while the advanced chip assembly and test project will operate from Gujarat.
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Cabinet Approves Kaynes’ INR 3,300 Cr Investment To Set Up A Semiconductor Unit In Gujarat
Inc42
·
11m ago
Medial
Kaynes Semicon is planning to set up a chip manufacturing unit in Sanand, Gujarat, with a production capacity of 60 lakh chips per day. The chips produced in this unit will be used in various sectors like automotive, EVs, consumer electronics, telecom, and mobile phones. The Indian government has been actively encouraging semiconductor investments, and this project is part of their efforts to develop the semiconductor ecosystem in the country.
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Kaynes to keep away from fabs for now, focus on chip facility, says CEO
Livemint
·
11m ago
Medial
Kaynes Semicon, a subsidiary of Kaynes Technology, is focusing on completing its chip assembly and test facility in Gujarat, rather than venturing into semiconductor fabrication. The company plans to start with chip manufacturing through outsourced assembly and test (OSAT) facilities and then gradually scale up. Once fully operational, the facility is expected to produce 6 million chips per day within the next two years. Kaynes' stock has risen by 12% since announcing the OSAT proposal. The company is also benefiting from India's production-linked incentives (PLI) scheme for IT hardware.
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India Inches Closer To Getting Its First Semiconductor Fab Unit
Inc42
·
10m ago
Medial
Taiwanese electronics company PSMC has signed an agreement with Tata Electronics to provide design and construction support for an AI-enabled greenfield plant in Gujarat. PSMC will also license various technologies and offer engineering support to Tata Electronics' unit in Gujarat. This development follows the approval by the Union Cabinet to establish a semiconductor fab in partnership with PSMC.
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Tamil Nadu cabinet approves Foxconn's Rs 13,180-crore display module assembly unit
Economic Times
·
10m ago
Medial
- Tamil Nadu cabinet approves Rs 13,180 crore investment by Yuzhan Technology (India), a unit of Foxconn, generating 14,000 jobs. - Foxconn considering Rs 1,000 crore investment to set up smartphone display module assembly unit in Tamil Nadu for Apple. - Foxconn acquires 500,000 square feet facility near Chennai for manufacturing smartphone modules, encouraging other contract manufacturers to use its components. - Foxconn's investment is the largest among 14 projects approved by the Tamil Nadu Cabinet, with a cumulative investment of Rs 38,698.80 crore. - Tata Motors to invest Rs 9,000 crore in manufacturing Jaguar Land Rover vehicles in Ranipet. - Other investments approved include Leap Green Energy Pvt Ltd (Rs 10,375 crore), Freetrend Industrial India (Rs 1,000 crore), Kaynes Circuits India (Rs 1,395 crore), Ascent Circuits (Rs 613.6 crore), and Lucas TVS (Rs 510 crore).
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India approves $15B in semiconductor plant investments
TechCrunch
·
1y ago
Medial
India has approved a $15.2 billion investment to build three semiconductor plants, including its first semiconductor fab facility, in an effort to compete with China and Taiwan in the chip race. The plants will focus on general-purpose applications rather than AI chips. The first fab facility will be set up by Tata Group and Taiwan's Power Chip in Gujarat. The government has also approved an investment in a semiconductor assembly unit in Assam and a specialized chip facility in Gujarat. These investments aim to boost India's domestic semiconductor sector and generate employment opportunities.
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Kaynes Semicon, 7 Rays announce collaboration across chip value chain
Economic Times
·
8m ago
Medial
Kaynes Semicon and 7 Rays Semiconductors have joined forces to collaborate in the semiconductor industry, specifically in design and packaging. 7 Rays Semiconductors will support Kaynes Semicon in outsourced semiconductor assembly and test (OSAT) packaging across various sectors such as AI, telecom, automotive, computing, and IoT. The partnership aims to focus on global market connections and supply chain resilience, with a particular emphasis on emerging sectors like cloud storage, AI, IoT, robotics, and advanced mechatronics. Kaynes Semicon has received approval for its chip assembly and packaging unit in Gujarat, with agreements already in place with international customers.
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Union Cabinet approves Chandrayaan-4, Venus Orbiter Mission
Economic Times
·
10m ago
Medial
The Union Cabinet has approved India's fourth lunar mission, Chandrayaan-4, which aims to bring lunar samples back to Earth. The mission is estimated to cost Rs 2,104 crore and is scheduled for launch in three years. The spacecraft will consist of five modules, including an ascender module for sample collection and a descender module to assist in the process. The chairman of the Indian Space Research Organisation (ISRO), S Somanath, highlighted the importance of Chandrayaan-4 in building technological capabilities for future manned lunar missions. Additionally, the Union Cabinet has approved the construction of the first unit of the Bharatiya Antariksh Station (BAS) as part of the Gaganyaan programme, which aims to establish an indigenous space station by 2035. The programme also includes eight human spaceflight missions and has received an additional funding of Rs 11,170 crore, bringing the total to Rs 20,193 crore.
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India set to be a big semicon player in 10 years: union minister Amit Shah
Economic Times
·
10m ago
Medial
India's home minister, Amit Shah, predicts that India will emerge as a significant player in the semiconductor market within the next decade. He highlighted the upcoming semiconductor chip manufacturing plant in Sanand, Gujarat, being built by US chip maker Micron. The plant is part of India's Semiconductor Mission, aiming to develop a domestic chip industry. The government has also approved the establishment of a unit by Kaynes Semiconductor. Shah also mentioned India's Digital India initiatives and the steps taken to support startups and innovation, including the abolition of the angel tax. Additionally, he highlighted the country's efforts in the space sector and plans to train cyber commandos.
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Union Cabinet Approves India’s Sixth Chip Unit Worth Rs 3,700 cr
OutlookIndia
·
2m ago
Medial
The Indian Union Cabinet approved the establishment of a sixth semiconductor unit under the India Semiconductor Mission, valued at Rs 3,700 crore. A joint venture between HCL and Foxconn will build it near Jewar airport, producing display driver chips for various electronic devices. This development marks a strategic milestone in India's semiconductor industry, enhancing its capability and aligning with the "Make in India" initiative, as demand for such chips is expected to grow significantly.
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