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42 min ago 2 min read
Paras Semiconductors, the semiconductor business of Indian defence technology company Paras Defence and Space Technologies, has signed a deal to establish a new Rs 6,200 crore ($710m) in-state advanced semiconductor assembly and test facility.
Under a signed memorandum of understanding (MoU) with the Madhya Pradesh government, the partnership hopes to advance semiconductor devices for sensor technologies, optical and optronic systems, and other strategic applications.
Paras said the initiative builds on its optics and optronics experience and represents a strategic expansion into critical technologies tied to India’s semiconductor ecosystem.
The proposed facility will be strategically located on the Ujjain-Indore Corridor, which Paras Semiconductors said represents the state’s intent to develop “long-term partnerships with industry.”
Santosh Kumar, CEO of Paras Semiconductors, said, “[The company aims to] develop semiconductor devices for strategic applications, strengthen domestic technology capabilities and contribute to India’s long-term technological self-reliance.”
The project will support Madhya Pradesh’s 2025 Semiconductor Policy, aimed at supporting state-wide semiconductor, electronics manufacturing, AI, and data centre development.
On 15 July, India’s Union Cabinet launched its Rs 115,500 crore ($13.2bn) Semiconductor Mission 2.0 in a push to build a self-reliant chip industry and reduce dependence on overseas supply chains.
As part of the mission’s first stage, the government has 12 semiconductor manufacturing projects involving an investment pipeline of around Rs 151,400 crore ($17.3bn).
