'Jewar To Emerge As India's Semiconductor Hub': Ashwini Vaishnaw
Vaishnaw said India had been importing PCBs worth nearly Rs 40,000 crore every year and domestic production would substantially reduce import dependence.
Noida, Jun 27 (PTI) Two electronics manufacturing projects involving a combined investment of about Rs 6,750 crore will generate around 3,000 jobs and help transform Jewar into one of India's leading electronics and semiconductor manufacturing hubs, Union Electronics and Information Technology Minister Ashwini Vaishnaw said on Saturday.
The projects include a Rs 3,250-crore investment by ASCENT-K Circuit, a joint venture with South Korea's KCC, to manufacture advanced high-density and multi-layer printed circuit boards (PCBs), and a Rs 3,500-crore facility by Amber Enterprises for manufacturing HVAC components and PCB assemblies.
Vaishnaw made the remarks after jointly laying the foundation stones for the projects with Uttar Pradesh Chief Minister Yogi Adityanath in Yamuna City, Jewar.
Highlighting India's growing domestic manufacturing capabilities, the Union minister said the country was moving beyond assembling electronic products to manufacturing their core components.
"We are moving from assembly to deep manufacturing. The advanced multi-layer PCBs being built here, some with 20 to 22 layers, are the backbone of modern technology. What we once imported, we will now 'Make in India' for the world," he said.
Vaishnaw said India had been importing PCBs worth nearly Rs 40,000 crore every year and domestic production would substantially reduce import dependence.
"Every PCB manufactured here will save foreign exchange, strengthen the rupee and improve India's balance of payments," he said.
The minister said investments worth thousands of crores flowing into the Yamuna City region would help make Jewar the "Silicon Valley of North India".
"Jewar is poised to emerge as one of India's leading hubs for electronics and semiconductor manufacturing. It will save billions in foreign exchange for the country and redefine India's economic landscape," he said.
Vaishnaw credited Chief Minister Yogi Adityanath for creating an ecosystem that had enabled Prime Minister Narendra Modi's vision of expanding electronics manufacturing to take shape in Uttar Pradesh.
"I would like to thank Chief Minister Yogi Adityanath for providing the vision that has brought the Prime Minister's electronics manufacturing initiative to Jewar," he said.
He also highlighted the region's rapidly expanding infrastructure, saying the operational Noida International Airport, connectivity through the Delhi-Mumbai Industrial Corridor (DMIC), and the proposed Delhi-Lucknow-Varanasi bullet train project were making Jewar an attractive destination for global investors.
(Disclaimer: This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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