Suchi Semicon launches Semiconductor Plant in Gujarat, plans to invest Rs 840 crore in 3 years

Semiconductor Plant: Suchi Semicon has launched its first semiconductor plant in Gujarat. The company has begun testing and assembling trials. It plans to invest $10 million over the next 3 years. Ashok Mehta, Chairman of Suchi Group and Founder of Suchi Semicon, stated that the company has applied for incentives under the EPECS (Electronic Components and Semiconductor Manufacturing Promotion) and the India Semiconductor Mission, but it does not want to stop production while waiting for the incentives.

To invest Rs 840 crore in 3 years
Ashok Mehta (Chairman of Suchi Group and Founder of Suchi Semicon) said, “We have a fully prepared business plan, and our plan is not mainly for incentives. We have set up a plant to run a business. The government’s approval will come when we meet their requirements. We have planned to invest $10 million (around ₹840 crore) in the next three years.”

Gujarat Government approves 20% incentive for the plant
He said that the state government has approved a 20% incentive for the plant. Mehta also mentioned that during the semiconductor shortage caused by COVID, Prime Minister Narendra Modi urged turning the crisis into an opportunity. Inspired by this, they decided to enter the semiconductor business. After extensive research with industry experts, they decided to start the factory. Mehta is also the founder of Suchi Industries, a textile company.

Suchi Semicon’s co-founder, Sheetal Mehta, said that the commercial supply of semiconductors will begin in the first quarter of next year. After the testing is completed, commercial shipments will start. For some applications where our components will be used, testing and approval will take about two weeks, while in other cases, it may take 3-4 months. We expect that commercial shipments for most applications will begin in the first quarter.