India making rapid strides in semiconductor sector: PM Modi

India is making rapid strides in the semiconductor sector, building a robust ecosystem to power its digital future and drive global innovation, Prime Minister Narendra Modi said on Tuesday after the Union Cabinet approved semiconductor units in three states.

In a post on X, he said, "Today's Cabinet decision relating to approval of semiconductor units in Andhra Pradesh, Odisha and Punjab will boost manufacturing capacity, create high-skilled jobs and position India as a key player in the global supply chain."

The Cabinet has approved four semiconductor plants, including a unit backed by US technology major Intel and Lockheed Martin, entailing a total investment of Rs 4,594 crore in three states.

The Cabinet also gave its nod to an investment of Rs 8,146.21 crore for the construction of a 700 MW Tato-II hydro-electric project in the Shi Yomi District of Arunachal Pradesh.

"Congratulations to my sisters and brothers of Arunachal Pradesh on the Cabinet approval for funding the Tato-II Hydro Electric Project (HEP) in Shi Yomi District. This is a vital project and will benefit the state's growth trajectory," Modi said.

The approval of Phase-1B of the Lucknow Metro will boost tourism and economic activities, and make travel within the city easier and more convenient, he added.

(PTI)