In a significant development for the semiconductor industry, SRAM and MRAM has announced its partnership with the Global Forum for Policy and Strategy (GFPS), a Geneva-based organisation, to find a technical partner for their ambitious semiconductor project in Odisha. This collaboration aims to bring cutting-edge technology and expertise to the project, further boosting India’s position in the global semiconductor market, the company has said. 

According to Suresh Sharma, the president of GFPS, the selection of the technical partner will be finalised within the next three to four weeks. Negotiations are currently underway with potential companies from Israel and Japan, who have demonstrated immense proficiency in the semiconductor industry. The process of finding the right partner is crucial for the success of the project and will play a pivotal role in its future endeavours. 

The brainchild of the UK-based company, SRAM & MRAM, the project aims to establish a state-of-the art semiconductor fabrication unit in the Ganjam district of Odisha. This unit will be set up with an initial investment of Rs 30,000 crore in the first phase, showcasing the company’s commitment to advanced technological infrastructure in India. The overall project is anticipated to be worth an astounding Rs 2 lakh crore, providing a significant boost to the country’s economy and creating numerous job opportunities in the region. 

SRAM & MRAM Technologies and Projects India, the Indian arm of the UK-based SRAM & MRAM Group, had previously signed a memorandum of understanding (MoU) with the Odisha government for establishment of the semiconductor unit. This collaboration between the company and the State government signifies a strong commitment towards nurturing the semiconductor industry’s growth in the region, the company has added.