Two big semiconductor proposals are under process and expected to take shape in the coming few months, Union minister Ashwini Vaishnaw said on Saturday.
Without divulging the specifics of the proposals, the minister said the projects will focus on a special area where India can emerge as a leader at the global level.
While speaking on the sidelines of the groundbreaking ceremony of Micron’s semiconductor plant, Vaishnaw said the global semiconductor company is noticing the progress made by India in the segment.
“This has developed India as a major trusted geography in which global industry players want to come. We can see in the coming few months at least two more large semiconductor proposals taking shape,” Vaishnaw said.
He said there are some specific areas where India can take the lead and the focus of the semiconductor projects will be in areas that can help the country export technology to other parts of the world.
The minister said the Micron plant, for which construction has started, will start producing the first chip from December 2024 onwards.
Memory chip maker Micron in June announced setting up a semiconductor assembly and test plant in Gujarat entailing a total investment of $2.75 billion (around Rs 22,540 crore).
Micron will invest up to $825 million in setting up the plant in two phases and the rest of the investment will come from the Centre and the state government.
The company has roped in Tata Projects for phased construction of the new assembly and test facility in Sanand. Phase 1 will include 500,000 square feet of planned cleanroom space.
The minister said semiconductor demand is expected to grow to Rs 5 lakh crore in coming years from about Rs 2 lakh crore.
“India is already a very large design hub. With manufacturing coming to India, the entire process and value chain will come to our country and Bharat will become a major semiconductor hub in coming years,” Vaishnaw said.