In a pivotal development for India’s quest for semiconductor self-sufficiency, South Korea’s Simmtech has declared an investment of INR 1,250 Crores in Gujarat, signaling the nation’s journey towards hosting its first domestically manufactured memory chip by the end of 2024. Union Electronics and IT Minister, Ashwini Vaishnaw, shared this significant announcement during the Vibrant Gujarat Global Summit 2024, underscoring Simmtech’s collaboration with the Gujarat government to bolster the semiconductor ecosystem.
Key Highlights:
- Strategic Investment by Simmtech: Simmtech, renowned for producing high-layer printed circuit boards for semiconductors, formalized an MoU with the Gujarat government. This strategic move involves an investment exceeding INR 1,250 Crores to establish operations in Gujarat, contributing to the burgeoning semiconductor landscape.
- Collaborative Efforts with Micron: Simmtech’s investment aligns with its commitment to support Micron’s semiconductor plant in Sanand, Gujarat. The collaborative effort aims to enhance India’s semiconductor capabilities and foster a thriving semiconductor ecosystem.
- Job Creation and Talent Development: The Simmtech plant, situated near Micron’s semiconductor facility, is anticipated to generate over 1,000 direct and indirect job opportunities. Additionally, Micron has inked a deal with NamTech to nurture talent for its semiconductor operations, underscoring a commitment to skill development in the sector.
- Government’s Semiconductor Initiatives: The Indian government’s proactive measures to attract semiconductor companies include a $10 billion commitment to the India Semiconductor Mission (ISM) and the design-linked incentive scheme. This concerted effort aims to establish a robust semiconductor ecosystem within the country.
- Global Standard Semiconductor Research Centre: The recommendation for setting up a global standard India Semiconductor Research Centre with an $8 billion outlay reflects the government’s dedication to advancing semiconductor research and development.
Future Prospects: India’s semiconductor ambitions are gaining momentum with Simmtech’s substantial investment, aligning with the government’s broader initiatives. The impending inauguration of the first domestically manufactured memory chip plant represents a significant stride towards semiconductor self-reliance.
