Kaynes Semicon Private Limited (Kaynes Semicon), a wholly owned subsidiary of Kaynes Technology India Limited, has announced the execution of its fiscal support agreement and all other transaction documents with the India Semiconductor Mission (ISM) under the policy framework established to develop semiconductor manufacturing capability in the country.
Commenting on the announcement, chief executive officer (CEO), ISM, said, “The execution of the fiscal support agreement and other transaction documents mark an important milestone for the project and we look forward to continued progress in line with the mission’s objectives.”
Meanwhile, CEO, Kaynes Semicon, said, “Execution of all these documents along with fiscal support agreement and all other transaction documents required is an important step forward for Kaynes Semicon as we progress on our semiconductor manufacturing journey. We remain grateful to the government of India, ISM and government of Gujarat for their continued support in this journey. We are committed to building a globally competitive semiconductor ecosystem from India with a clear focus on operational excellence and robust compliance.”
In addition, executive vice chairman, Kaynes Semicon, said, “Semiconductors are foundational to India’s digital and manufacturing ambitions, and this milestone reinforces our strategic commitment to play a meaningful role in this sector through Kaynes Semicon. We appreciate the structured governance framework established by the ISM and remain focused on long-term value creation for all stakeholders.”
Moreover, president, IESA, said, “Kaynes Semicon, an IESA member, has demonstrated how strong industry capability combined with decisive government action can accelerate India’s semiconductor journey. We commend ISM and MeitY for their timely approvals and structured execution framework, which are building confidence across the ecosystem.”
