New Delhi, Feb 19 (KNN) India is set to become the hub for semiconductor manufacturing with the announcement of two full-fledged fabrication plants, along with multiple chip assembly and packaging units.

Rajeev Chandrasekhar, Minister of Electronics and IT, revealed that these projects entail substantial investments, highlighting India's emergence as a key player in the global semiconductor industry, reported BT.

One of the significant proposals comes from Tower Semiconductors, an Israel-based company, with an investment of USD 8 billion.

The other proposal is from Tata Group, further underlining the diverse investment interests in India's semiconductor sector.

Chandrasekhar expressed his enthusiasm about these developments, emphasising that the upcoming facilities will utilise advanced technologies such as 65, 40, and 28-nanometer processes.

He also mentioned ongoing evaluations of additional packaging proposals to complement the semiconductor manufacturing landscape.

Responding to inquiries about the status of these investments and India's semiconductor roadmap, the minister assured that the projects would receive approval during Prime Minister Narendra Modi's third term if not before the upcoming general elections.

He underscored the credibility and significance of the investment proposals, highlighting Tata Group's involvement alongside Tower Semiconductors.

The government has received four proposals for the establishment of semiconductor manufacturing plants and 13 proposals for chip assembly, testing, monitoring, and packaging (ATMP) units.

These submissions complement the ongoing development of a Rs 22,516-crore chip assembly plant in Gujarat, initiated by the US-based memory chip manufacturer Micron.

(KNN Bureau)