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In a major boost to semiconductor manufacturing in Madhya Pradesh, Paras Semiconductors has signed a Memorandum of Understanding (MoU) with the state government to set up a Rs 6,200 crore semiconductor packaging plant, according to an exchange filing by the company.
Under the agreement, the Madhya Pradesh government has allotted 50 acres of land along the strategically located Ujjain-Indore Corridor for the proposed semiconductor facility. Paras Semiconductors, in its exchange filing, said, "Paras Semiconductors today signed a Memorandum of Understanding (MoU) with the Government of Madhya Pradesh to establish an advanced semiconductor packaging OSAT facility in the state." The company said the project, backed by a proposed investment of Rs 6,200 crore, is expected to strengthen India's semiconductor manufacturing ecosystem, accelerate the development of semiconductor devices for strategic applications, create significant employment opportunities, and catalyse the growth of a robust semiconductor ecosystem. According to the filing, the project is also expected to bolster Madhya Pradesh's emergence as a preferred destination for advanced manufacturing and next-generation technologies. The company noted that the Ujjain-Indore Corridor is emerging as one of Madhya Pradesh's key technology and manufacturing hubs, supported by progressive policies, world-class infrastructure, industry-academia collaboration, and research and skill development initiatives aimed at attracting investments across the semiconductor value chain. Paras Semiconductors said the proposed semiconductor plant is expected to complement these efforts by establishing advanced manufacturing capabilities and further strengthening the region's position as a strategic hub for next-generation technologies. The filing further stated that the facility is expected to significantly strengthen Madhya Pradesh's industrial ecosystem by fostering ancillary industries, expanding MSME and supplier networks, creating opportunities for highly skilled talent, and enhancing the state's capabilities in high-value manufacturing. "Beyond direct economic benefits, the project is expected to accelerate technology development, encourage innovation-led manufacturing and reinforce Madhya Pradesh's position as an emerging semiconductor destination while supporting India's long-term semiconductor and electronics ambitions," the company said in the filing. (ANI)
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