UK based – SRAM & MRAM Group has proposed to set up a semiconductor fabrication unit near Bhubaneswar with an investment of Rs 30,000 crore in the first phase.
The project will be spread over 40 acres of land near Bhubaneswar. The total investment for the project will be around Rs 2 lakh crore and provide direct employment to 400-500 persons and indirect employment to a large population. With this project, work on several types of machinery waiting for semiconductor chips can be expedited without depending on foreign countries manufacturing semiconductor chips.
Currently, India is mostly depend on China, Taiwan, Korea, etc for its semiconductor chips requirements which are used in equipment ranging from washing machines to airplanes.