Sahasra Electronics, which plans to spend INR7.5 billion for the memory IC OSAT business, will soon provide memory chips and SSDs to a local CCTV provider, highlighting India's efforts to be self-reliant on semiconductors.
According to Telecom Mirror and ElectronicsB2B, Indian ODM Sahasra Electronics signed an MoU with India's CCTV and surveillance systems provider Samriddhi Automations to supply the latter locally-made memory chips and SSDs.
Amrit Manwani, managing director at Sahasra Electronics, said they will commence manufacturing in January 2023 with Micro SD and SD cards and move up the value chain to NAND Flash BGA and eMMC & eMCP packaging once the production stabilizes.
In July, Sahasra announced a plan to invest INR7.5 billion (US$90 million) in establishing an ATMP plant in an electronics manufacturer cluster, set up by ELCINA (Electronic Industries Association of India) in Bhiwadi, Rajasthan. The company will invest INR1.5 billion in fiscal 2023 (April 2022 to March 2023) and spend another INR6 billion once its revenue reaches INR2.5-3 billion, according to the reports.
Sahasra's subsidiaries have applied for several of India's incentive schemes. Sahasra Electronics is an applicant for the Production Linked Incentive for Large Scale Manufacturing, while Sahasra Semiconductor was approved under SPECS (Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors), which provides a financial incentive of 25% on capital expenditure.
Sahasra Semiconductors previously sold USB sticks and SD cards for the US and Japanese brands. After the brands' exit from the memory business in India, Sahasra began selling products in its own brand name, Business Standard reports.
According to Telecom Mirror, Sahasra uses Japanese and Taiwanese technology to build its memory IC OSAT facility. In 2017, Taiwan-based MiTAC invested in InfoPower, a group affiliate of Sahasra Group.
According to a press release by India's Ministry of Electronics & IT on December 21, under India's INR760 billion incentive scheme to build a local semiconductor ecosystem, the Indian government has set up an independent business division India Semiconductor Mission within Digital India Corporation. The India Semiconductor Mission is responsible for catalyzing the India semiconductor ecosystem in manufacturing, packaging, and design.
