Intel, Lockheed Martin among companies investing in India's semiconductor push
The projects will come up in Odisha, Punjab and Andhra Pradesh, IT & Electronics Minister Ashwini Vaishnaw said.
The proposals were approved under the India Semiconductor Mission, which initially started the country's semiconductor manufacturing push with an outlay of Rs 76,000 crore to provide financial support for those setting up chip manufacturing facilities.
'This is a new industry that we have started in India, and we were able to make a breakthrough after trying for decades previously.
We will build upon this. The demand for semiconductors is building up every month, every day. And the way these projects are being set up and are scaling up, I think we will be able to have significant production in our country as part of the Atmanirbhar Bharat programme. To me, it appears that this is just the beginning,' Vaishnaw said while briefing about the new projects and also those that started previously.
The minister said that a silicon carbide semiconductor plant will be set up in Bhubaneswar with an investment of Rs 2,066 crore by SiCsem Pvt Ltd.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
NRIs Living In Ukraine Are Eligible For INR 2 Lakh Monthly Pension. Invest 18K/Month
investmentlife.policybazaar
Get Offer
Undo
"Silicon carbide is a very robust material and can sustain at high temperatures. Silicon carbide is used in our missiles, satellites, telecom towers, rockets, railway engines, etc.' The plant will have a capacity to produce 9.6 crore chips per year.
The Cabinet also approved US chip major Intel-backed 3D Glass semiconductor manufacturing unit in Odisha with an investment of Rs 1,943 crore. The plant will be set up by Heterogenous Integration Packaging Solutions with an annual production capacity of five crore units.
Vaishnaw said the project will be backed by US firm Lockheed Martin as well.
It is understood that the two American companies have invested in the project for sourcing the production, and also as part of their financial investment plans.
A chip packaging plant in Andhra Pradesh, to be set up by Advanced System in Package Technologies with an investment of Rs 468 crore, was also approved by the Cabinet. It will have a capacity to produce 9.6 crore chips per year.
The cabinet also cleared a semiconductor project of electronics component maker firm CDIL. The facility will be set up in Punjab with an investment of Rs 117 crore, having an annual production capacity of 15.8 crore units.
Vaishnaw said the plans for semiconductor come at a time when the country's electronics manufacturing sector has grown six times to Rs 12 lakh crore in the last 11 years. Exports of electronics has grown eight times in the same period to Rs 3.3 lakh crore and mobile production has increased 28 times to Rs 5.5 lakh crore.
The minister said India will host Semicon India 2025 in partnership with four countries-- Singapore, Malaysia, Japan and Korea from September 2 to 4.
There has been considerable success in development of semiconductor ecosystem in India after the central govt had come up with a Rs 76,000 crore incentive package in December 2021. Under the plan, govt had extended fiscal support of up to 50% of a project's cost to eligible display and semiconductor fabricators.
India – which had previously failed to get any credible proposals for semiconductor manufacturing after trying for decades – had finally managed to score big when American Micron emerged as the first major player to enter the space with a Rs 22,500 crore testing and packaging unit in Gujarat in June 2023. This was followed up with approval to three proposals worth Rs 1.26 lakh crore in February 2024. These were -- Rs 91,000 crore project of Tata Electronics Pvt Ltd to set up India's first semiconductor fab unit with Taiwanese Powerchip Semiconductor Manufacturing Corp at Dholera in Gujarat; Rs 27,000 crore Semiconductor Assembly and Test (TSAT) unit by Tata in Morigaon, Assam; and Rs 7,600 crore project of CG Power with Japanese Renesas Electronics and Stars Microelectronics of Thailand.
'
Stay informed with the latest
business
news, updates on
bank holidays
,
public holidays
, current
gold rate
and
silver price
.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
23 minutes ago
- Time of India
Air Canada attendants strike: Carrier cancels flights ahead of work stoppage — Here's what passengers can do
Air Canada executives leave after they are interrupted by Air Canada flight attendants during a press conference as a possible strike looms, in Toronto, on Thursday, Aug. 14, 2025. (AP Photo) Air Canada began canceling flights on Thursday, ahead of a possible work stoppage by flight attendants, who issued a 72-hour strike notice, potentially impacting hundreds of thousands of travelers. A complete shutdown of the country's largest airline threatens to affect approximately 1.3 lakh people daily, A. Mark Nasr, Chief Operations Officer for Air Canada, stated the airline has begun a gradual suspension of Air Canada and Air Canada Rouge operations. 'All flights will be paused by Saturday early morning,' he said. Nasr added that this approach will help facilitate an orderly restart 'which under the best circumstances will take a full week to complete.' He mentioned that the initial set of cancellations, involving several dozen flights, will impact long-haul overseas flights scheduled to depart Thursday night. 'By tomorrow evening we expect to have cancelled flights affecting over 1 lakh customers,' Nasr said. 'By the time we get to 1 am on Saturday morning we will be completely grounded.' Nasr said the grounding will affect 25,000 Canadians daily abroad who may become stranded. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Use an AI Writing Tool That Actually Understands Your Voice Grammarly Install Now Undo They anticipate 500 flights to be cancelled by the end of Friday. He further stated that customers whose flights are cancelled will be eligible for a full refund, and the airline has arranged with other Canadian and foreign carriers to provide alternative travel options 'to the extent possible.' The Canadian Union of Public Employees (CUPE), representing attendants nationwide, issued a strike notice, leading Air Canada to announce a 72-hour lockout effective August 16. According to the union, 99.7 per cent of its members supported the strike, which will suspend operations from Saturday until a labour agreement is reached. 'For the past nine months, we have put forward solid, data-driven proposals on wages and unpaid work, all rooted in fairness and industry standards,' said Wesley Lesosky, President of the Air Canada Component of CUPE. 'Air Canada's response to our proposals makes one thing clear: they are not interested in resolving these critical issues.' The airline stated that eight months of negotiations and an offer to go to arbitration failed to produce a deal. Some flight attendants at the airline's news conference on Thursday held up signs that read 'Unpaid work won't fly' and 'Poverty wages = UnCanadian.' Natasha Stea, who represents flight attendants in Montreal for the union, said she thinks the airline is counting on the government to intervene. Stea said they want a fair and equitable contract. 'There is still time. I'm sure if we sat down and talked we could actually get to an agreement,' she said. On August 11, it proposed a 38 per cent pay increase over four years, along with additional benefits and protections, but the union rejected the offer. What to do if your Air Canada flight is cancelled John Gradek, who heads McGill University's aviation management program, said that Canada's Air Passenger Protection Regulations require airlines to promptly notify passengers of cancellations—via text, voicemail, or email—and outline their options, CBC reported. Typically, Air Canada must cover the cost of rebooking passengers on another airline so they arrive within 48 hours of their original scheduled time. If that's not possible, or the alternative offered doesn't meet the passenger's needs, the airline must issue a refund for the unused ticket value. Expenses for hotels, meals, and other costs incurred while waiting must also be reimbursed—passengers should keep receipts and be prepared to submit them. Canadian North passengers should check how their booking was made: if the Air Canada leg was on a separate ticket, Air Canada is responsible for rebooking; if the journey was booked entirely through Canadian North, that carrier must arrange the replacement flight.
Time of India
an hour ago
- Time of India
Tata Sons AGM marks SP Group thaw, Noel Tata joins board
At the Tata Sons AGM, the Shapoorji Pallonji Group approved all resolutions, signaling improved relations. Discussions are underway regarding SP Group's potential exit and monetization options, with Tata Sons exploring avenues. Revenue has nearly doubled and net profit has more than tripled over the past five years, with the group adopting a 'fitness first, velocity next' mantra. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Tata Sons annual general meeting (AGM) saw Shapoorji Pallonji (SP) Group okaying all resolutions, leading to their unanimous approval, marking another advance in the thawing relations between the minority and majority previous years, SP Group, which holds 18.37% in the Tata group holding company, has either abstained from voting or objected to some resolutions. Tata Sons voted to appoint Noel Tata to the board and approved the reappointment of Venu Srinivasan and Saurabh Agrawal as directors. It also approved Anita George, cofounder and chief executive of emerging markets growth fund Prosperete, as an independent this was the first AGM held since the passing of Ratan Tata in October last year. His halfbrother, Noel Tata, is chairman of Tata Trusts , which holds a controlling 66% stake in Tata Sons. This was the company's 107th Sons has initiated early discussions with SP are exploring potential exit options and monetisation avenues in the unlisted holding company, currently pledged with lenders. People close to SP Group said it was optimistic about growth under the leadership of Tata Sons chairman N Chandrasekaran, and is looking forward to constructive met SP Group chairman Shapoor Mistry a few times in the recent past, they added. These were the first formal interactions between the two sides since ties soured following the ouster of the late Cyrus Mistry, Shapoor's brother, as Tata Sons chairman in 2016. The talks are said to be Group nearly doubled revenue and more than tripled net profit and market cap over the past five years, when it spent Rs 5.5 lakh crore to be 'future fit' and has sought to alter strategies that 'may have aged poorly with time and changing economic conditions,' adopting a 'fitness first, velocity next' mantra, Chandra sekaran said in the latest Tata Sons annual report. Group revenue from all listed and unlisted entities was Rs 15.3 lakh crore in FY25, with net profit at Rs 1.1 lakh crore and market cap at Rs 37.8 lakh crore, it said. Tata Sons and SP Group did not AGM at Bombay House was led by Chandrasekaran and attended by Noel Tata and his children Leah, Maya and Neville on behalf of the smaller trusts. This was among the shortest AGMs in years, at about 20 minutes, said the people Mistry attended as a representative of the Sir Ratan Tata Trust and Vijay Singh as a representative of the Sir Dorabji Tata Trust. Mistry, also one of the executors of Ratan Tata's will, proposed the appointment of Noel Tata as director and the passing of accounts. At last year's AGM, SP Group had expressed dissatisfaction over not being informed about Tata Sons' decision to apply to the Reserve Bank of India for deregistration as an Upper Layer Core Investment Company (UL-CIC). It had also voiced concerns about being left out of deliberations on the Tata Trusts' resolution that Tata Sons remain an unlisted private company. In January, RBI said in its annual report that it was reviewing Tata Sons' application for deregistration from the UL-CIC per regulations, companies classified as NBFC-UL are required to go public by September. Tata Sons had cleared all its debt obligations to meet the eligibility criteria for exclusion from this Ratan Tata's demise, longstanding tensions between the two groups have been easing, according to people close to them. Cyrus Mistry died in 2022 in a road accident. Noel Tata is married to the sister of the Mistry brothers. There currently appears to be room for constructive dialogue, potentially paving the way for a mutually agreed exit for the Mistry family from Tata Sons, said the people cited. SP Group has suggested Tata Sons consider the possibility of an IPO as a route to unlock value for shareholders, according to people in the Tata, who became chairman of Tata Trusts in October 2024, was nominated to the Tata Sons board by the trusts. He had been appointed additional director last year.
Time of India
an hour ago
- Time of India
Capricorn Daily Horoscope Today, August 15, 2025: Your overconfidence could be your downfall
Today calls for patience with yourself and those around you. Life's pace may feel slow or challenging, but patience is the key to peace and progress. Avoid rushing or forcing outcomes; instead, trust that things unfold in their own time. Being gentle with your own limitations and others' helps reduce frustration and improve relationships. Patience strengthens resilience and creates space for understanding and growth. Embrace this calm attitude to move steadily toward your goals with grace. Capricorn Love Horoscope Today In love, patience nurtures a deeper emotional connection. Allow your partner and yourself time to heal or grow without pressure. Avoid rushing decisions or pushing for immediate changes. Singles benefit by being patient with the process of meeting the right person. Trust that love comes when the timing is right. Patience today creates space for kindness, trust, and lasting intimacy in your relationships. Capricorn Career Horoscope Today At work, practising patience helps you handle tasks and challenges calmly. Avoid impulsive reactions or frustration with slow progress. Consistent effort and a calm attitude lead to better outcomes and professional respect. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Accounting Help Made Simple legal directorate Learn More Undo Patience also improves teamwork and communication. Trust that your hard work will be recognised and rewarded in due course. Steady persistence today builds a strong foundation for success. Capricorn Money Horoscope Today Financially, patience is essential in managing your money wisely. Avoid rushing into investments or purchases without thorough consideration. Stick to your budget and savings plan with discipline. Being patient helps you avoid impulsive mistakes and build financial security. Trust that steady, careful management will improve your financial position gradually. Patience brings peace and confidence in your financial journey. Capricorn Health Horoscope Today Health improves when you practice patience with your body's healing and energy cycles. Avoid pushing yourself too hard or expecting immediate results. Gentle self-care, rest, and balanced routines support long-term wellness. Patience reduces stress and encourages mindful attention to your needs. Trust your body's natural pace and nurture your health with kindness and care today. Discover everything about astrology at Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces . Read your detailed Horoscope Today and Horoscope Tomorrow here.
