Ahead of Lok Sabha polls, PM Modi lays foundation of 3 semiconductor facilities worth Rs 1.25 lakh crore

While two of the semiconductor facilities will be coming up in Gujarat, one is being built in Assam

New Delhi | Updated: March 13, 2024 11:50 AM IST

3 min read

PM Modi lays foundation of 3 semiconductor facilities (Photo: PTI)

Continuing his developmental pitch ahead of the Lok Sabha elections, Prime Minister Narendra Modi Wednesday laid the foundation of three semiconductor facilities in India worth about Rs 1.25 lakh crore.

PM Modi said that three fab units will help India turn into a global hub for semiconductor manufacturing. “Today is a historic day. Today, we are also scripting history & taking a strong step ahead towards a bright future,” PM Modi said at the ‘India’s Techade: Chips for Viksit Bharat’ event.

The 21st century is a technology-driven century which cannot be imagined without chips, the Prime Minister added in his address. The Indian Prime Minister added that the country is pioneering Industry 4.0 after being left behind in first and the second industrial revolutions.

“Leaders from Taiwan have also joined us in today’s program virtually. I am very excited about the attempts made by India. More than 60 thousand colleges, universities & educational institutes are associated with today’s event.”

Speaking at the IT minister Ashwini Vaishnaw termed semiconductor industry as “foundational industry”, saying that anything that can be put on and off works on these chips, including fans, fridges, TVs, trains, computers, mobile phones among others.

Terming this a big moment for the North-East region, the bureaucrat turned politician said that the semiconductor industry will play a significant role in PM Modi’s Atma Nirbhar Bharat Mission. Vaishnaw said that it will be a proud moment for India when cars and laptops in the developed world will run on made in India chips.

Out of the upcoming four plants in India, one is being set up in Assam’s Morigaon district. The other two fab units are coming up in Gujarat’s Dholera and Sadanand.

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“Four semiconductor units are being built in the country. One of the four semiconductor units is coming up in Assam. The four plants are an example of work being done at a great pace under the double-engine government. The cabinet gave its approval on 29th February 2024 for TATA & CG power plants and within 15 days PM Modi will lay the foundation stone,” Vaishnav added.

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