A major event in India's semiconductor industry happened. Hiranandani Group plans to launch India's second semiconductor park in the Yamuna Expressway Industrial Development Authority (YEIDA) area near Noida, Uttar Pradesh. Another goal of this ambitious project, led by Darshan Hiranandani, CEO of Hiranandani Group, is to place India as a critical player within the global semiconductor supply chain.
This would be India's second facility, after Vedanta Limited and Taiwanese company Foxconn have established their own semiconductor and display manufacturing facilities at Dholera Special Investment Region (SIR), Ahmedabad, Gujarat.
According to YEIDA CEO Arun Vir Singh, Tarq Semiconductors Private Limited from Hiranandani Group has applied for permission from the Central Government under the Indian Semiconductor Mission Scheme, and for that purpose, they have paid Rs 50 Lakhs as fees. The same application was also sent to the UP government on behalf of the company. When the Centre approves, the state cabinet will allocate land for this project.
At the February 2023 UP Global Investors Summit, Hiranandani Group signed an MoU with the Uttar Pradesh government proposing an investment of INR 170 Billion in the semiconductor park. According to the MOU between them, Tarq Semiconductors will establish ATP plants for semiconductor assembly, testing, and packaging purposes.
Three types of semiconductor ATP production lines are proposed in the project plan: the legacy line, the mature line, and the complex line. ATP plant one would be built over phase one of 24 months, with ATP plants two and three to follow over the next twenty-four months during phase two. An estimated workforce size of about 1,000 people is expected from this project.
In a letter addressed to YEIDA CEO Darshan Hiranandani, he said that his company is expecting an investment of over Rs 25 Billion in the first phase of this project. He added that Hiranandani Group has been operating successfully in Uttar Pradesh through its data centre division, Yotta Data Services Pvt. Ltd., and now would like to expand its presence by piloting the state's semiconductor division project.
The establishment of the semiconductor park in the YEIDA area is a roadmap towards achieving India's aspiration in the semiconductor industry, which is also supported by government initiatives like the Indian Semiconductor Mission to develop vibrancy around the semiconductor and display manufacturing ecosystem within the country.
Darshan Hiranandani - As India continues to attract investments in the semiconductor sector, Hiranandani Group's proposed Semiconductor Park in YEIDA is poised to play a crucial role in strengthening the nation's position paper more prominently than other countries on the global semiconductor supply chain. This will create jobs and contribute to the development of the local economy and science and technology progress across this region and beyond.
