Andhra Pradesh achieved a landmark milestone with the groundbreaking ceremony of the ASIP Technologies semiconductor facility in Visakhapatnam, being developed with an investment of over ₹460 crore and a capacity to manufacture around 96 million semiconductor chips annually. Developed by ASIP Technologies Pvt Ltd in partnership with APACT, Republic of Korea, the facility is Andhra Pradesh’s first semiconductor manufacturing facility approved under the India Semiconductor Mission. In addition to enhancing India’s semiconductor manufacturing capabilities, the project will cultivate a robust ancillary ecosystem and generate high-skilled employment opportunities, facilitating the expansion of semiconductor manufacturing in the state.
The groundbreaking is a testament to the sweeping momentum of India’s semiconductor ecosystem which is rapidly moving from announcement to execution. The Union Cabinet’s approval of two additional semiconductor projects on May 5, 2026, brought the total count of approved facilities under the India Semiconductor Mission to 12 across six states, with cumulative investments of approximately ₹1.64 lakh crore.
Momentum is building on the policy front as well. Under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi and the dedicated efforts of Hon’ble Union Minister Shri Ashwini Vaishnaw, India has built a credible and globally trusted semiconductor ecosystem through bold policy initiatives, unwavering commitment and policy continuity. The Union Cabinet’s approval on Semicon 2.0 (India Semiconductor Mission 2.0) with a fiscal outlay of ₹1,27,500 crore (approx $13 billion) will extend the programme’s focus to expand local design, materials production, and advanced manufacturing and resilient global supply chains while 24 semiconductor design projects are currently being supported under the Design Linked Incentive Scheme. These efforts have significantly strengthened investor confidence in India’s semiconductor journey.
Andhra Pradesh, under the leadership of Hon’ble Chief Minister Shri N. Chandrababu Naidu, is rapidly emerging as a leading technology destination, with electronics manufacturing and data centres becoming important pillars of India’s growing semiconductor ecosystem.
We also applaud Mr. Venkata Simhadri, Founder & CEO of ASIP Technologies, for his decision and conviction in building the OSAT. A vision that is now translating into one of Andhra Pradesh’s most significant semiconductor investments.
On behalf of IESA and SEMI India, we congratulate all stakeholders on this significant milestone and wish our valued member ASIP Technologies continued success as it contributes to India’s vision of becoming a global semiconductor powerhouse.
