Cabinet approves Rs 3,300 crore chip assembly plant by Kaynes Semicon in Gujarat

The Union Cabinet Monday cleared a semiconductor assembly and testing plant being set up by Kaynes Semicon at a cost of Rs 3,300 crore. This is the fifth semiconductor unit, and the fourth assembly unit, to receive Cabinet approval under India’s ambitious Rs 76,000 crore chip manufacturing incentive scheme.

“The capacity of this unit will be 60 lakh chips per day… The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc.” the Ministry of Electronics and IT (MeitY) said in a statement.