Dikhyaa Mohanty 
The UK-based SRAM & MRAM Group declared last year that they will spend Rs 2 lakh billion in Odisha to establish a semiconductor factory. The company has now revealed that Rs 30,000 crore in initial investment was given to the state. To build the semiconductor fab project in the state, SRAM & MRAM Technologies, IPICOL, and the government of Odisha inked an MoU. Startup Wings, the group’s investment arm, is in charge of investments in the state.
An official acknowledged that the UK business will bring in outside technology partners to help with semiconductor manufacturing in Odisha. The chairman of SRAM & MRAM Group, Dr. Sailesh Lachu Hiranandani, said: “This investment has been in the works for a very long time, and we are pleased to see it materializing into a reality. One of the top goals in all we do is the growth of the nation. With this partnership, we hope to accomplish some very significant successes.
Creating an ecosystem of design, production, distribution, and service companies to meet local, national, and international demand for chips and electronics is the larger objective of the relationship with Epic. However, in light of continued US chip import restrictions on China, India is striving to become a center for semiconductors. The country is well-positioned to develop a robust chip business in the next three to four years as a consequence of enabling laws and the government’s efforts to boost its manufacturing environment, according to Union IT Minister Ashwini Vaishnaw.
