India's Finance Minister Nirmala Sitharaman declared a golden moment of growth for Assam during her visit to the nation's first semiconductor assembly and testing plant in the northeastern state. The minister called upon young Assamese entrepreneurs and students to seize unprecedented opportunities in the emerging industrial landscape.
Vision for Assam's Youth and Industrial Transformation
During an interactive session titled 'Enterprise Assam — Viksit Bharat @2047' at the Tata Electronics' Rs 27,000-crore OSAT facility in Jagiroad, Morigaon district, Sitharaman engaged with over 200 students, start-ups, and entrepreneurs from across the state. She emphasized that the establishment of industrial units like the semiconductor plant would spawn numerous peripheral industries, creating multiple employment avenues for the region's youth.
I urge them to take risks, start ventures, and contribute to the nation's economic development, the Union Finance and Corporate Affairs Minister stated during her Friday visit. She was accompanied by Assam Chief Minister Himanta Biswa Sarma, with whom she reviewed the progress of the high-tech facility and interacted with officials overseeing its development.
Massive Employment and Technological Impact
The Tata OSAT facility represents a monumental leap in India's semiconductor ambitions. Once fully operational, the plant will produce an impressive 48 million semiconductor chips daily using advanced packaging technologies including Flip Chip and Integrated System-in-Package (ISIP). This production capacity positions Assam as a rising hub in India's semiconductor ecosystem.
The project is expected to generate substantial employment opportunities, with approximately 15,000 direct jobs and between 11,000 to 13,000 indirect employment positions. This job creation potential marks a significant economic transformation for the region and aligns with the broader vision of Viksit Bharat @2047.
Building an Innovation Ecosystem
Sitharaman praised Assam's foresight in attracting semiconductor manufacturing, calling it a bold step in industrial policy. She highlighted Prime Minister Narendra Modi's recent launch of a Rs 1 lakh-crore research and development fund designed to foster innovation across both public and private sectors throughout the country.
This fund is accessible not only to government institutions but also to private sector entities across the country, the Finance Minister explained. It will help build an ecosystem of innovation, entrepreneurship, and employment, propelling Assam toward the vision of Viksit Bharat @2047.
The semiconductor facility at Jagiroad represents a strategic investment in India's technological self-reliance and positions Assam at the forefront of the nation's industrial transformation journey.
