Prime Minister Modi to Spearhead Nationwide Credit Support Initiative and Inaugurate Semiconductor Facilities Worth Rs 1.25 Lakh Crores
Prime Minister Modi to Spearhead Nationwide Credit Support Initiative and Inaugurate Semiconductor Facilities Worth Rs 1.25 Lakh Crores
On 13th March 2024, Prime Minister Narendra Modi is set to champion a substantial nationwide outreach program aimed at extending credit support to the disadvantaged sectors of society and inaugurating significant semiconductor projects, marking a pivotal moment in India's technological and social advancement.
During a video conferencing session at 4 PM, Modi will introduce the Pradhan Mantri Samajik Utthan evam Rozgar Adharit Jankalyan (PM-SURAJ) portal, a national platform designed to sanction credit support to 1 lakh entrepreneurs from disadvantaged sections, including Scheduled Castes, Backward Classes, and sanitation workers. This initiative underscores the Prime Minister's dedication to uplifting the marginalized communities across India. In addition, Ayushman Health Cards and PPE kits will be distributed to Safai Mitras under the National Action for Mechanised Sanitation Ecosystem (NAMASTE) scheme, reinforcing the government's commitment to the health and safety of frontline workers.
The event will witness the participation of around 3 lakh beneficiaries from over 500 districts, showcasing the extensive reach of the government's welfare schemes.
Furthermore, at 10:30 AM on the same day, Modi will partake in 'India’s Techade: Chips for Viksit Bharat,' where he will lay the foundation stones for three semiconductor facilities totaling an investment of approximately Rs 1.25 lakh crores. This initiative is a strategic step towards establishing India as a global hub for semiconductor design, manufacturing, and technology development, promising to create substantial employment opportunities for the youth.
The semiconductor fabrication facility, to be established in the Dholera Special Investment Region (DSIR), Gujarat, by Tata Electronics Private Limited (TEPL), represents an investment of over Rs. 91,000 crores. Additionally, two Outsourced Semiconductor Assembly and Test (OSAT) facilities are set to be developed - one in Morigaon, Assam, with an investment of about Rs 27,000 crore and another in Sanand, Gujarat, by CG Power and Industrial Solutions Limited, amounting to approximately Rs 7,500 crore.
These projects are expected to significantly bolster India's semiconductor ecosystem, providing employment to thousands and catalyzing job creation in related sectors such as electronics and telecom.
The programme will attract a vast audience, including thousands of college students and semiconductor industry leaders, highlighting the government's effort to empower the youth and propel India towards becoming a developed nation.