Darshan Hiranandani, a notable figure in India's corporate landscape, is on the brink of launching a groundbreaking initiative that could elevate Uttar Pradesh to a key player in the global semiconductor landscape. His venture, Tarq Semiconductors Private Limited, has recently submitted an application to the central government under the Indian Semiconductor Mission Scheme, aiming to establish advanced assembly, testing, and packaging (ATP) plants for semiconductors in the state. This ambitious project is anticipated to deliver significant economic advantages to the region while enhancing India’s position in the international semiconductor supply chain.
The Strategic Significance of the Initiative
Semiconductors are critical components in today’s technology ecosystem, powering everything from smartphones and computers to automobiles and industrial machinery. The COVID-19 pandemic highlighted the vulnerabilities in global supply chains and the pressing need for self-sufficiency in semiconductor production. In response, the Government of India launched the Indian Semiconductor Mission to bolster domestic production capabilities and decrease dependence on foreign suppliers.
The Hiranandani Group's Tarq Semiconductors has swiftly embraced this initiative. By applying for the establishment of a state-of-the-art semiconductor ATP facility in Uttar Pradesh, the company is taking a significant step toward creating a manufacturing hub as envisioned by the government. The initiative is set to utilize a 91-acre site in Sector 28 of the Yamuna Expressway Industrial Development Authority (YEIDA), strategically positioned to serve as a center for semiconductor manufacturing.
Phased Growth and Employment Opportunities
The Memorandum of Understanding (MoU) between Tarq Semiconductors and the government outlines a structured pathway for the project's development. The first phase involves the construction and operational launch of ATP Plant 1, which will focus on legacy semiconductor technologies. This initial phase is expected to be finalized within two years, requiring an investment of over Rs 2,500 crore. Following this, phases two and three will introduce ATP Plants 2 and 3, which will cater to both mature and advanced semiconductor technologies over the subsequent two years.
This project is set to create an estimated 1,000 jobs during the initial phase alone, fostering both direct and indirect employment opportunities. This influx of jobs will stimulate local industries and further invigorate the regional economy. Additionally, this initiative aligns with the government’s 'Make in India' campaign, which promotes domestic manufacturing and aims to curtail import dependency.
Darshan Hiranandani's Dedication to Uttar Pradesh
The Hiranandani Group has consistently demonstrated its commitment to Uttar Pradesh through various existing projects. One notable example is Yotta Data Services Pvt. Ltd., a successful venture that contributes to the state’s digital infrastructure. The decision to establish the semiconductor project in Uttar Pradesh underscores Hiranandani's belief in the state’s potential to become a significant industrial hub.
In a letter to YEIDA, Hiranandani highlighted the state's strategic advantages, including its skilled workforce and supportive government policies, which were pivotal in the decision-making process. Consequently, this semiconductor initiative marks a crucial advancement in the group’s expansion strategy and positions Uttar Pradesh as a prospective leader in India's semiconductor manufacturing sector.
In summary, Darshan Hiranandani's establishment of Tarq Semiconductors’ ATP center signifies a landmark achievement in India’s pursuit of self-reliance in semiconductor manufacturing. Through substantial capital investments, a phased approach to development, and a strong commitment to job creation, this project has the potential to transform Uttar Pradesh into a vital player in the global semiconductor supply chain.
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