Source: Economic Times
Context: The Union Cabinet approved a Rs 3,300 crore proposal by Kaynes Semicon Pvt Ltd to establish a semiconductor unit in Sanand, Gujarat.
- This unit, part of the India Semiconductor Mission (ISM), will produce nearly 60 lakh chips daily for applications across various sectors, including automotive, consumer electronics, and telecom.
- The initiative aligns with India’s goal of developing indigenous semiconductor capabilities.
- India’s semiconductor market is projected to reach $64 billion by 2026, positioning the country as a major global semiconductor hub
ISM is a specialized, independent division within the Digital India Corporation.
Objective: It aims to develop a robust semiconductor and display ecosystem to establish India as a global hub for electronics manufacturing and design.
Responsibilities: ISM has full administrative and financial powers to drive the semiconductor ecosystem in India, focusing on manufacturing, packaging, and design.
Advisory Board: The division is supported by an advisory board of leading global semiconductor experts.
Role: ISM serves as the nodal agency for implementing schemes under the Semicon India Programme.
