UK Company to Open 30000 crore Semiconductor Unit in Odisha.A UK-based corporation has revealed plans to build a cutting-edge semiconductor facility in Odisha, which is a significant milestone for India’s semiconductor industry. With a $30,000 billion investment, this project is anticipated to dramatically improve India’s semiconductor production capacity and establish it as a major player in the global tech industry.
Expanding India’s Semiconductor Landscape:
A significant turning point for India was the UK company’s choice to locate a manufacturing facility in Odisha. Semiconductor chips, a crucial component used in a variety of electronic gadgets, have historically been widely imported into India. India can lessen its reliance on imports by setting up a domestic manufacturing facility and create a self-sufficient ecosystem. This action is in line with the government’s “Make in India” strategy, which aims to increase domestic production and lessen reliance on imports.
Creating Job Opportunities:
It is anticipated that the construction of manufacturing facility in Odisha, estimated to cost Rs. 30,000 crore, will create a sizable number of jobs. Jobs at all skill levels, from highly specialised engineers and technicians to support employees, will be made possible by this investment. The development of jobs will help Odisha’s economy flourish while also addressing the issue of unemployment, particularly among young people. It will act as a catalyst for the region’s overall socioeconomic development and skill development.
Technological Advancement and Innovation:
The region will benefit from the new semiconductor unit’s advanced technology and skills. Modern infrastructure, research and development facilities, and qualified personnel are needed for semiconductor manufacture. Odisha will be able to develop high-performance chips for a variety of industries, including telecommunications, automotive, healthcare, and consumer electronics, by establishing this unit, which will provide it access to cutting-edge semiconductor production methods.
A semiconductor facility will encourage cooperation and innovation within the regional IT sector. It will draw tech startups, research facilities, and business owners to the area, fostering a culture of knowledge exchange and technical advancement. This collaboration between academics, business, and government will spur innovation, resulting in the creation of homegrown remedies and the expansion of the semiconductor market as a whole.
Boosting India’s Tech Manufacturing Competitiveness:
India will have a much stronger place in the world of tech production once a semiconductor facility is established in Odisha. For Indian IT companies, the availability of domestically produced semiconductor chips will improve the supply chain, lowering their dependency on imports and raising cost effectiveness. In addition to helping established players, this will promote the expansion of new and small- to medium-sized businesses (SMEs) in the technology industry.
The semiconductor unit will also bring in innovative technology, cross-border business prospects, and foreign direct investment (FDI) and partnerships with multinational corporations. It will increase India’s ability to compete and entice major international tech companies to locate their manufacturing facilities there.
According to officials, a UK-based corporation intends to invest Rs 30,000 crore in the first phase of the construction of a semiconductor production facility in the Ganjam district of Odisha.
On March 26, the state government and the Indian branch of the UK-based SRAM & MRAM Group, SRAM & Projects India Pvt Limited, signed a memorandum of understanding (MoU) for the establishment of the semiconductor factory in the state.
On Thursday, representatives from the Indian company led by its chairman Guruji Kumaran Swami met with the district government in Chhatrapur after inspecting certain locations in the area around Chhatrapur.
Investors have been promised all necessary facilities for setting up the unit by Ganjam Collector Dibya Jyoti Parida.
“We have been to a few locations, including the Tata industrial park and other private lands for the projected semiconductor facility. According to Debadutt Singhdeo, project director for the company, a technical team from the company would visit the neighbourhood to finalise the site.
To set up the facility, the business needs from 500 to 800 acres of land.
Although company representatives also visited other districts, they chose the location near Chhatrapur because it is close to the Gopalpur port, a designated industrial corridor, an airstrip, and a national highway, in addition to having access to clean water and energy, which are essential for the fabrication unit, according to sources.
The corporation hoped to launch the unit within two years and give 5,000 workers direct jobs. By investing over Rs 2 lakh crore by 2027, it also expected to develop the unit in succeeding phases, according to Singhdeo.
Memory chips for use in mobile phones, televisions, laptops, air conditioners, and ATMs will be produced by the semiconductor facility. Since the nation cannot produce its own semiconductors, it imports them from other nations on a yearly basis worth about Rs. 3 lakh crore.
According to Berhampur MP Chandra Sekhar Sahu, the project will promote industrialization in the neighbourhood.
He claimed that various businesses are considering investing in the state as a result of an alluring industrial policy.
According to Sahu, the new unit will help create jobs and meet the nation’s need for semiconductors.