The Indian government is taking a big step to make the country technologically self-reliant. The government has shown speed in approving an investment of Rs 1.25 lakh crore for ‘India Semiconductor Mission’. This means that in the future, the chips used in mobiles, cars and modern gadgets will now be manufactured on a large scale in India. The government’s target is that by 2030, India should fulfill 75 percent of its own needs. This decision can open new avenues of development for two major companies of the stock market.
1- Investors keep an eye on Keynes Technology
Keynes Technology’s name is at the forefront among the companies working in the semiconductor sector. The company is building an ‘OSAT’ facility in Gujarat, where packaging and testing of chips will be done. If the government brings more incentives for this sector, Keynes Technology may be the first to benefit from it. According to recent data, the company’s shares saw a rise of 5.5 percent on Friday and closed at Rs 3333. In the last five years, this stock has given a strong return of 328 percent to the investors.
2- New innings of CG Power
CG Power is no longer limited to just making electrical appliances. The government has given approval to the company for the OSAT project, due to which it has firmly entered the business of semiconductor packaging. Although its shares fell by 6.97 percent to Rs 892 due to selling in the market on Friday, but experts believe that this can be a big investment in the long run. The past track record of the company has also been excellent, having increased its investors’ money by more than 1000 percent in five years.
Why is this mission important?
In today’s era, no electronic item can work without chips. Be it smartphones, electric vehicles or security equipment, they are needed everywhere. At the time of Corona, the world had seen how the automobile sector had come to a standstill due to chip shortage. The Indian government wants to end this dependency. By having the entire ecosystem from designing to manufacturing ready in India, not only will jobs increase, but the country’s economy will also get a big boost.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
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