Indian Economy News

Prime Minister Mr. Narendra Modi highlights semiconductor momentum at Kaynes Semicon inauguration in Sanand

Prime Minister Mr. Narendra Modi highlighted key milestones from his speech delivered during the inauguration ceremony of Kaynes Semicon OSAT, a facility located in Sanand, Gujarat, marking another important milestone in the development of semiconductor manufacturing in India. The inauguration comes exactly one month after production commenced at the Micron facility in the same industrial hub, highlighting the rapid expansion of India’s semiconductor ecosystem. The development marks an important milestone in strengthening India’s ambition to emerge as a global hub for futuristic technologies and innovation. This facility located in Sanand aims to boost India’s semiconductor value chain, along with its contribution to the global electronics and semiconductor ecosystem.

The inauguration of the Kaynes Semicon facility is a significant step forward for the ‘Make in India’ and ‘Make for the World’ concept, at the same time providing opportunities for skilled youth in various states through semiconductor-based industries. It is also an indicator of the government's continued commitment to building semiconductor capabilities in India under the upcoming Semiconductor Mission 2.0, which is expected to further scale investments, manufacturing, and innovation-led growth in this sector. In the overall context of India's Techade, semiconductor, artificial intelligence, and other frontier technology areas have significant potential to boost India's technological prowess and its integration with global technology ecosystems. The development of semiconductor-based infrastructure is also part of India's long-term strategy for building self-reliance in high-tech industries and moving up the global electronics value chain.

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