Mumbai, Mar 27 (KNN) RRP Electronics, a promising startup backed by Indian cricket icon Sachin Tendulkar, has unveiled ambitious plans to invest Rs. 5,000 crore in a state-of-the-art semiconductor manufacturing plant in Maharashtra over the next five years.

This major announcement signals a significant boost to India's growing semiconductor industry.

The company, founded by Rajendra Chodankar, inaugurated a 25,000 square foot facility in Navi Mumbai on Saturday, reported ET.

Tendulkar and renowned nuclear physicist Anil Kakodkar attended the event, underlining the project's importance.

In addition to the new Outsourced Semiconductor Assembly and Test (OSAT) plant, the firm plans to establish a cutting-edge R&D centre, multi-line OSAT facility, and semiconductor fabrication foundry.

"We are committed to investing Rs. 5,000 crore in Phase 1 over the next five years, with equal investment planned for Phase 2," said Chodankar.

Targeting automotive, power, electronics and industrial sectors, he highlighted plans to make Maharashtra a semiconductor manufacturing hub by leveraging government incentives.

Tendulkar expressed excitement about supporting an Indian firm poised to make global impact in emerging tech industries.

The announcement comes amid surging semiconductor investments worldwide as the chip shortage continues.

With Tendulkar's backing, RRP Electronics aims to revolutionise semiconductor manufacturing in India from its base in Maharashtra.

(KNN Bureau)