One more cap in India's semiconductor mission, new plant at Jewar UP announced
New Delhi [India], May 14 (ANI): In a significant stride for India's semiconductor ambitions, the government has approved a new semiconductor manufacturing unit with a financial outlay of Rs3,706 crore.
This facility will be established near Uttar Pradesh's Jewar Airport through a joint venture between the HCL Group and Taiwanese electronics giant Foxconn. The sixth unit is expected to generate employment for around 2,000 people and will help significantly in strengthening India's semiconductor ecosystem.
The unit at Jewar will have 20,000 wafers per month capacity, and the chips 36 million (3.6 crore) per month, the minister said.
This project aligns with the goals of the India Semiconductor Mission, which aims to incentivize the development of a comprehensive semiconductor ecosystem within the country. The mission supports various facets of semiconductor manufacturing, including fabs for silicon, displays, compound semiconductors, as well as packaging and design. The Union Cabinet has committed a total of Rs76,000 crore for the development of a sustainable semiconductor and display ecosystem in 2021.
The HCL-Foxconn venture is the latest addition to India's burgeoning semiconductor landscape. Previously, five other significant projects have been approved.
Micron Technology is setting up a Rs22,516 crore unit in Sanand, Gujarat, in June 2023, providing 50 per cent fiscal support on pari-passu basis.
Tata Electronics Private Limited (TEPL) and Powerchip are collaborating on a Rs91,000 crore fab in Dholera, with production expected to commence by 2026. Tata Electronics is also establishing a Rs27,000 crore assembly and test facility in Assam, slated to be operational by mid-2025.
A joint venture between CG Power, Renesas, and Stars Microelectronics is developing an OSAT facility in Sanand, with pilot production expected by July 2025.
Lastly, Kaynes Semicon received approval for a Rs3,300 crore chip unit, also in Sanand.
This series of approvals underscores the Indian government's proactive approach to fostering a robust and self-reliant semiconductor industry, attracting substantial domestic and international investment and paving the way for technological advancement and economic growth. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
32 minutes ago
- Business Standard
Hinduja Family Philanthropy: 250% Crop Yield Surge with Watershed Initiatives
VMPL New Delhi [India], June 6: Small farmers in rural West Bengal's core are experiencing a dramatic change due to the efforts of water management by the Hinduja Foundation (philanthropic arm of the Hinduja family). This farsighted plan has remarkably enhanced agricultural productivity, thereby creating an astonishing 250% increase in crop yields in a very short span of time. This outstanding achievement is the outcome of focused watershed interventions, designed in partnership with the Ambuja Foundation, that have been made to enhance water supply, improve soil health, and empower local farmers to escape the poverty cycle. The Power of Watershed Interventions For decades, farmers in West Bengal's Murshidabad district have coped with unpredictable rainfall and water shortage, severely constraining their capacity to cultivate high-value crops and maintain their livelihoods. Seeing the prospect of rewriting this story, the Hinduja Foundation introduced a series of watershed interventions to maximise water use and improve agricultural resilience. These were check dams, river lift irrigation schemes, or rainwater harvesting works designed according to the specific measurements and climatic characteristics of the local area. These systems cover more than 400 ha of cultivated land, which is an astonishing number in itself. Transforming Rural Livelihoods The numbers speak eloquently enough. Farmers have testified to stepped-up cropping intensity in the region by an incredible 250%, allowing them to raise more than one crop per year and their revenues manyfold. The average annual income per acre has gone up from Rs25,000 to Rs150,000, making farming a more and more remunerative and sustainable occupation. Prakash Hinduja, the managing trustee of the Hinduja Foundation, emphasized the significance of this initiative: "At the Hinduja Foundation, we are committed to making a sustainable development impact long after we have departed. We build rural empowerment and resilience, as demonstrated by our programs in Murshidabad." Building a Sustainable Future In addition to the economic advantages, watershed projects provide long-term environmental benefits. This project helps restore nature's ecological balance, making agriculture more sustainable in the long term with the prevention of soil erosion, recharge of aquifers, and enhancement of total water-holding capacity in the region. Switzerland-based Prakash Hinduja reinforced this by stating, "Water is needed for farming, and our activities are intended to enhance productivity while making farmers successful sustainably. This exactly suits our family vision of developing long-term value for communities." A Model for Pan-Indian Impact The Hinduja Foundation's work in Murshidabad is more than a local success story. It is a scalable model for similar interventions across India, particularly in regions facing water stress and climate challenges. By building the infrastructure for effective water management, the foundation is laying the groundwork for a more resilient nationwide agricultural sector. "We are envisaging a better future for all farmers in India," said Prakash Hinduja. "We are supporting innovations in water management technologies to enhance farmers' local community productivity, incomes, and resilience. This is the essence of the commitment to sustainable development embodied by the Hinduja Family." With the world tackling the acute water scarcity and global warming crises, Hinduja Foundation's West Bengal program presents a shining example of agriculture in the India of the future: one of sustainability, rural strength, and rich harvests that last.
Time of India
2 hours ago
- Time of India
Iraq frees Australian engineer after four years, but keeps travel ban
ANI file photo BAGHDAD: Iraq has released an Australian mechanical engineer on bail who was detained for more than four years over a dispute with the central bank, authorities said Friday, though he remains barred from leaving the country. Robert Pether was working for an engineering company contracted to oversee the construction of the bank's new Baghdad headquarters, according to a United Nations report, when he was arrested in April 2021 alongside his Egyptian deputy Khalid Radwan. A report from a working group for the UN Human Rights Council said the arrests stemmed from a contractual dispute over "alleged failure to execute certain payments". Both men were sentenced to five years in prison and fined $12 million, the working group said. A security official, speaking on condition of anonymity, told AFP that Pether, in his fifties, was released "due to his poor health". Australian media have previously reported that the family suspected Pether had developed lung cancer in prison and that he had undergone surgery for skin cancer. The official declined to comment on the fate of Radwan. Australia's ABC broadcaster quoted the country's foreign minister, Penny Wong, as welcoming the release and saying the Australian government had raised the issue with Iraqi authorities more than 200 times. Simon Harris, foreign minister for Ireland, where Pether's family lives, posted on X: "This evening, I have been informed of the release on bail of Robert Pether, whose imprisonment in Iraq has been a case of great concern. "This is very welcome news in what has been a long and distressing saga for Robert's wife, three children and his wider family and friends." Speaking to Irish national broadcaster RTE, Pether's wife, Desree Pether, said her husband was "not well at all" and "really needs to just come home so he can get the proper medical care he needs". "He's completely unrecognisable. It's a shock to the system to see how far he has declined," she said.
Business Standard
2 hours ago
- Business Standard
Aman Publicity Services, Powered by Nixxar Mediawale, Unveil Asset-Backed DOOH Investment Model, Vasai-Virar
PNN Mumbai (Maharashtra) [India], June 6: In a landmark initiative blending advertising, real estate, and investment innovation,Aman Publicity Services, in collaboration with Nixxar Mediawale (an authorised Direct Sales Agent of The Times Group), has launched a pioneering Digital Out-of-Home (DOOH) asset investment platform within the rapidly developing Vasai-Virar Municipal Corporation (VVCMC) region. This strategic partnership seeks to redefine the landscape of urban advertising by offering individuals a chance to invest in large-format digital hoardings installed across prime commercial zones. With a unique blend of real estate-backed stability and media-generated income, the model is designed to appeal to both seasoned and first-time investors. Introducing a New Paradigm in Infrastructure Investment The newly launched venture is based on a robust and transparent asset-backed model, tailored to deliver fixed monthly returns. By integrating legal ownership of physical advertising assets with passive revenue generation from DOOH campaigns, this project introduces a relatively untapped investment category to the Indian market. The plan includes deploying between 100 to 500 high-visibility digital hoardings -- each measuring 10x20 feet (200 sq. ft.) -- at critical junctures in the VVCMC area. These LED billboards are strategically selected for their location advantage and high daily footfall, ensuring maximum advertiser appeal and consistent rental income. Investment Model: Ownership Meets Income Stability At the heart of the offering lies a structured fixed-income model with asset ownership. Investors can enter the scheme with a minimum capital of Rs25 lakh, receiving a guaranteed 1% return per month, effectively translating to Rs25,000 monthly income. The investment tenure is fixed at five years, during which participants will receive a mix of principal repayment and interest. The scheme also offers additional investment slabs at Rs50 lakh, Rs75 lakh, and Rs1 crore for those looking to diversify more significantly. Each investor is assigned a specific hoarding asset, with legal documentation to establish ownership rights. The monthly payouts are executed in a structured manner, ensuring predictability and transparency. Upon completion of the five-year term, a guaranteed buyback clause allows investors to exit with full capital recovery. "This is more than an investment in advertising infrastructure; it's an investment in long-term financial security," says Manoj Pareekh, Vice President - Sales at Aman Publicity Services. "With inflation, market volatility, and economic uncertainty influencing traditional investments, our DOOH asset model stands out as a secure and tangible option for passive income generation." Location Advantage: Vasai-Virar's Rapid Urban Rise Vasai-Virar, a key zone within the Mumbai Metropolitan Region Development Authority (MMRDA), is undergoing rapid urbanisation. Known for its burgeoning residential clusters, evolving infrastructure, and growing commercial footprint, the area presents a fertile ground for modern advertising assets. By situating these digital hoardings in high-traffic areas, such as near markets, transit hubs, educational institutions, and shopping complexes, the venture maximises both visibility and advertising potential. Each digital unit features 12 advertising slots, enabling multi-brand displays and ensuring a diversified income stream from various advertisers. The demand for DOOH assets is already on the rise in Vasai-Virar, driven by increased spending in retail promotions, political campaigns, real estate marketing, and FMCG visibility. The chosen locations are expected to ensure full or near-full occupancy of ad slots, making the revenue model sustainable and scalable. Projected Returns and Financial Viability The business model underpinning this investment opportunity has been meticulously planned. Based on operational data and market demand projections, the joint venture expects to generate a cumulative net profit of approximately Rs35.3 crore over a five-year horizon across the initial 50 hoarding units. To maintain the investor payout cycle, the estimated monthly liability for 50 units is about Rs22.2 lakh, an amount well within expected ad revenue margins. The financial ecosystem is structured for stability, and surplus returns beyond the fixed payouts contribute to reserve funds, future expansion, or reinvestment. Legal Framework, Compliance, and Investor Protection Transparency and legality are central to the model. Each investment is backed by a formal agreement that includes: * Registered Ownership Documents: Legal proof of asset allocation. * Investment Agreement: Clearly outlining payout schedules, terms, and exit clauses. * Tax Compliance: All obligations under Indian financial law -- including Goods and Services Tax (GST), Tax Deducted at Source (TDS), and other statutory filings -- are managed in accordance with current legislation. Ajay Choudhary, Founder of Aman Publicity Services, confirmed that the company has set up rigorous compliance systems to ensure investor confidence and smooth operation. "Our focus is to deliver an investment vehicle that's not just attractive on paper but fortified with legal safeguards and consistent real-world performance." A booking fee of Rs5 lakh is required to initiate the investment, with the remaining capital to be deposited prior to the installation and activation of the hoarding unit. The structured nature of capital deployment ensures smooth onboarding and immediate initiation of return generation upon installation. Who Should Invest? The asset-backed DOOH model is specifically designed to appeal to risk-averse individuals and entities seeking long-term, passive income streams. The ideal investor profiles include: * Retirees and Financially Secure Individuals: Seeking monthly cash flow and capital protection. * Corporate Professionals: Looking to diversify beyond volatile equity markets or underperforming fixed deposits. * Business Owners and Influencers: Interested in alternative revenue streams and low-maintenance investments. * High-Net-Worth Individuals (HNIs): Exploring opportunities in infrastructure and media-backed portfolios. The initiative aligns with broader financial inclusion trends, where retail investors gain access to income-generating infrastructure projects traditionally reserved for institutional players. Vasai-Virar: The Next Big DOOH Destination The DOOH industry in India is growing at an accelerated pace, and Vasai-Virar is poised to become a significant contributor to this trend. With increasing traffic congestion, digitised urban planning, and higher outdoor engagement, digital hoardings are quickly replacing static boards as the preferred medium for advertisers. The influx of population, expansion of residential zones, and new commercial developments have turned Vasai-Virar into a sweet spot for advertisers, where visibility and ROI are notably higher. By anchoring investment to this geographical opportunity, Aman Publicity and Nixxar Mediawale are not just building an advertising network -- they are building an income ecosystem for investors. Democratising Infrastructure Investment What sets this initiative apart is its focus on democratising access to urban infrastructure. Traditionally, investments in media and municipal real estate required large institutional backing or government links. Through this model, everyday investors can now legally own and profit from assets that are part of the city's functional advertising ecosystem. This initiative mirrors global shifts toward fractional or individualised infrastructure investment, where digital tools, clear legal frameworks, and innovative financial structuring open the gates to broader participation. Next Steps and Onboarding Process Currently, the team at Aman Publicity and Nixxar Mediawale is onboarding early investors through a structured due diligence process. Interested parties are encouraged to submit applications for initial evaluation, followed by documentation, asset allocation, and eventual installation. Investors will be provided with a transparent briefing on legal, financial, and operational aspects prior to commitment, reinforcing the promoters' focus on trust and long-term investor satisfaction.
