Kaynes Technology’s Rs. 3,300 Cr. Semiconductor Plant Inaugurated in Gujarat

Kaynes Technology India Limited has inaugurated its new semiconductor plant in Sanand, Gujarat. The plant has been developed with a total investment of Rs. 3,300 crore. It is the second such facility in the country, taking forward semiconductor manufacturing plans after the inauguration of Micron’s USD 2.75 billion semiconductor fabrication plant in Gujarat.

Kaynes Technology’s new facility in Sanand will manufacture Intelligent Power Modules used in electric vehicles and industrial applications. During the inauguration of this plant, the Prime Minister mentioned that India launched the India Semiconductor Mission in 2021, and work is currently underway on 10 projects worth over Rs. 1.6 lakh crore across six states. He further added that India’s semiconductor market, currently valued at around USD 50 billion, is projected to cross USD 100 billion by the end of the decade.

In addition, the next phase of the semiconductor mission targets to develop domestic capabilities in equipment and materials, alongside efforts to secure critical raw material supply chains through initiatives such as the National Critical Minerals Mission.