Four semiconductor projects that have promised investments worth Rs 1.24 lakh crore in Gujarat will also create 53,000 new employment opportunities. The state government stated the Gujarat Semiconductor Policy 2022-2027 has 'attracted significant investments, with four leading semiconductor companies set to invest a total of Rs 1.24 lakh crore in new projects.

The foundation stone for Micron’s advanced semiconductor ATMP plant was laid in Sanand, marking an investment of over Rs 22,500 crore. Similarly at Dholera’s ‘Semicon City’ in Ahmedabad district, Tata Electronics (TEPL) and Taiwan’s PSMC are set to establish India’s first commercial artificial intelligence (AI)-enabled semiconductor fabrication facility, with an investment of over Rs 91,000 crore, while CG Power and Renesas will set up a semiconductor OSAT facility in Sanand GIDC, supported by a total project investment of over Rs 7,500 crore.

Additionally, the state government has approved Kaynes Semicon’s facility in Sanand, projected to produce around 60 lakhs chips daily with an investment of Rs 3,300 crore.

These state-of-the-art facilities will play a pivotal role in reducing India’s dependence on imported semiconductor chips while also catalyzing job creation in critical downstream sectors such as automotive, electronics, medical equipment, and telecommunications.