HT Bureau
GUWAHATI, Jan 17: Kaynes Semicon Private Limited, a wholly owned subsidiary of Kaynes Technology India Limited, has executed its Fiscal Support Agreement along with all other required transaction documents with the India Semiconductor Mission (ISM), Government of India, marking a key milestone in availing fiscal support under the national semiconductor policy framework.
The execution of the agreement completes an important procedural step in the implementation of fiscal incentives under the scheme guidelines and reflects the Government of India’s continued commitment to building domestic semiconductor manufacturing capability.
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Kaynes Semicon said the development underscores its focus on high standards of governance, transparency and regulatory compliance as it scales up its semiconductor initiatives in line with India’s long-term strategic objectives.
Amitesh Kumar Sinha, CEO of the India Semiconductor Mission, said the signing of the fiscal support and transaction documents marks a significant milestone for the project and expressed confidence in its progress in alignment with the Mission’s goals.
Raghu Panicker, CEO of Kaynes Semicon, said the execution of the agreements represents an important step forward in the company’s semiconductor manufacturing journey.
He expressed gratitude to the Government of India, ISM and the Government of Gujarat for their continued support, and reiterated the company’s commitment to building a globally competitive semiconductor ecosystem from India with a strong emphasis on operational excellence and compliance.
Ramesh Kannan, Executive Vice Chairman of Kaynes Technology India Limited, said semiconductors are central to India’s digital and manufacturing ambitions, and the milestone reinforces the group’s strategic intent to play a meaningful role in the sector through Kaynes Semicon.
Ashok Chandak, President of the India Electronics and Semiconductor Association, said the development demonstrates how coordinated government action and strong industry capability can accelerate India’s semiconductor journey, and commended ISM and the Ministry of Electronics and IT for their structured execution framework.
