April 25th, 2023
India’s Hiranandani Group has announced plans to build the country’s second semiconductor park in Uttar Pradesh. The park will be constructed on 91 acres of land in Sector 28 of the Yamuna Expressway Industrial Development Authority (YEIDA) area. The company signed a deal with the Uttar Pradesh government during the February 2023 UP Global Investors Summit and has proposed an investment of Rs 17,000 crore (~2Billion USD) for the project.
The semiconductor park will be a significant milestone for the Indian technology industry, which has long been trying to establish a foothold in the global semiconductor market. The project will help to promote the growth of the semiconductor industry in the country, reduce India’s dependence on imports, and create employment opportunities for local talent.
The Hiranandani Group is a well-known real estate and infrastructure development company in India with a strong track record of executing large-scale projects. The company’s foray into the semiconductor industry is a strategic move aimed at capitalizing on the growing demand for semiconductors in India and around the world.
The proposed semiconductor park will be equipped with state-of-the-art infrastructure, including cleanrooms, testing facilities, and advanced research and development facilities. The park will also house manufacturing units for semiconductors, microprocessors, and other related components.
The Hiranandani Group’s investment in the semiconductor park is expected to generate a significant economic impact for the region. The project is expected to create over 10,000 direct jobs and over 30,000 indirect jobs in the region. The development of the park will also help to attract further investment in the region and promote the growth of the local economy.
The semiconductor industry is a key driver of the global economy and is expected to grow at a significant pace in the coming years. The Hiranandani Group’s investment in the sector is a step in the right direction and will help to position India as a key player in the global semiconductor market.
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