The Hiranandani Group, a well-known real estate company, has announced a massive Rs 28,440 crore semiconductor project in Noida, marking a significant boost to India’s technology and manufacturing sector. This surprise move was announced during the Invest UP Roundtable held on May 27 at the Jio World Convention Centre in Mumbai. The event was organized by Invest UP, the Uttar Pradesh government’s investment promotion agency, and saw the participation of top industrial leaders from various sectors.
The Hiranandani Group’s semiconductor plant is part of a larger investment plan of Rs 69,000 crore, demonstrating the company’s commitment to entering and growing in the semiconductor industry. This is a key area for India’s future digital and manufacturing goals, and the government is pushing to make the country self-reliant in semiconductor manufacturing. The project is expected to contribute significantly to this goal.
Other companies also made significant announcements during the roundtable, including Avaada Group’s Rs 20,000 crore investment in solar energy, UltraTech Cement’s Rs 1,981 crore investment in projects across Aligarh, Shahjahanpur, and Tanda, and Tata Power Renewable Energy’s Rs 13,700 crore investment to build two 800 MW ultra-supercritical power units in Bundelkhand.
The state of Uttar Pradesh is rapidly becoming a hot spot for investments, with over 20 sector-specific policies and a large skilled workforce. The government’s investor-friendly policies, quick approvals, and strong infrastructure have been praised by industry leaders. The Invest UP Roundtable highlighted the state’s potential as a top business destination, with companies sharing their plans and experiences in the state.
The Hiranandani Group’s announcement marks a major milestone for India’s push to become self-reliant in semiconductor manufacturing. The project is expected to have a significant impact on the country’s technology and manufacturing sector, and demonstrates the government’s efforts to attract investments and promote economic growth. With the state’s favorable business environment and the company’s commitment to the project, the future of India’s semiconductor industry looks promising.