Kaynes Semicon Clears Key Hurdle in India Chip Push
Fiscal support pact with the India Semiconductor Mission moves the company closer to manufacturing execution.
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Kaynes Semicon Pvt. Ltd, a wholly owned subsidiary of Kaynes Technology India Ltd, has reached a key procedural milestone in India’s drive to build domestic semiconductor capacity by signing a Fiscal Support Agreement and all associated transaction documents with the India Semiconductor Mission (ISM) under the government’s semiconductor incentive framework.
The agreement allows Kaynes Semicon to unlock eligible fiscal incentives under the policy and underscores continued momentum in implementing its semiconductor manufacturing plans. The move also reflects the Centre’s commitment to strengthening India’s semiconductor supply chain and reducing reliance on imports.
Amitesh Kumar Sinha, CEO of ISM, called the development a key step forward for the project.
“This marks an important milestone for the project, and we look forward to continued progress in line with the Mission’s objectives,” he said.
For Kaynes Semicon, the agreement signals a disciplined push into semiconductor manufacturing.
CEO Raghu Panicker said the company remains focused on governance, transparency, and compliance as it scales its initiatives.
Ramesh Kannan, Executive Vice-Chairman of Kaynes Technology India, said the milestone reinforces the group’s long-term strategic intent in the sector.
“We appreciate the structured governance framework established by ISM and remain focused on long-term value creation for all stakeholders,” he noted.
Industry group India Electronics and Semiconductor Association said the development showed “how robust industry capability paired with decisive government action can accelerate India’s semiconductor journey.”
