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Instead of selling memory chips for Japan- and US-based brands, Sahasra Semiconductors has decided to set up a memory chip assembly, test, and packaging (ATMP) unit in India and sell its own chips by December, which may be India's first memory chip ATMP plant from scratch.
According to PTI, Amrit Manwani, chairman and managing director of Sahasra Semiconductors, said they would invest INR7.5 billion (US$94 million) in setting up a memory chip ATMP plant in Bhiwadi, Rajasthan.
Sahasra Semiconductors will invest INR750 million in fiscal 2023 (April 2022-March 2023) and another INR750 million in fiscal 2024. Once their revenue reaches INR2.5-3 billion, Sahasra Semiconductors will invest an additional INR6 billion. The company expects to generate INR500 million in revenue in the first full financial year, with sales reaching INR5 billion by fiscal 2026, grabbing 5-7% market share in the INR70-100 billion local semiconductor market.
Manwani told PTI that the first set of equipment is expected to leave Singapore in the coming days and arrives at their Bhiwadi factory by mid-August, with more equipment coming between August and September. The company will have trial runs in November, with commercialization production expected by December.
Sahasra Semiconductor was originally an agent in India selling memory products for US- and Japan-based brands. After foreign brands exited India's memory market, Sahasra Semiconductors started selling products under its brand name, including USB sticks, SD cards, and SSDs.
According to Zauba Corp, Sahasra Semiconductors was established on July 15, 2020, and engaged in manufacturing electronic valves, tubes, and other electronic components. Besides, Sahasra Semiconductors' group affiliates include Sahasra Electronics and Infopower Technologies.
Sahasra Electronics is eligible for the Production Linked Incentive (PLI) incentive scheme for large-scale electronics manufacturing (specified electronic components), and Sahasra Semiconductors is eligible for PLI for white goods (LED driver IC packaging). Sahasra Semiconductors is also approved under India's Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).
In addition to Sahasra Semiconductors, The Economic Times recently quoted a source reporting that Micron has sent people to Gujarat and Tamil Nadu to evaluate the conditions for setting up factories to produce memory modules, but Micron did not confirm the rumor.