India Approves New SEZs for Semiconductor Manufacturing

India's government has greenlit projects from Micron Semiconductor Technology India and Aequs Group to develop new SEZs for semiconductor and electronics component manufacturing. Located in Gujarat and Karnataka, these initiatives aim to drive investment and create high-tech jobs amidst revised regulatory frameworks.

In a significant move to bolster its high-tech manufacturing sector, the Indian government has sanctioned proposals to establish Special Economic Zones (SEZs) for semiconductor and electronics manufacturing. The approval is aimed at enhancing the domestic semiconductor ecosystem while creating high-skilled employment opportunities.

Micron Semiconductor Technology India is set to develop a facility in Sanand, Gujarat, with a massive investment of Rs 13,000 crore over 37.64 hectares. Meanwhile, Aequs Group is poised to build an SEZ in Dharwad, Karnataka, focusing on electronics components over an 11.55-hectare area with a capital of Rs 100 crore.

These approvals come in the wake of recent amendments to SEZ rules, lowering the land requirement and facilitating domestic supply post duty payment. This strategic decision aims to attract pioneering investments in this capital-intensive industry, encouraging high-technology ventures in the nation's manufacturing landscape.

(With inputs from agencies.)