Until a few years ago, cricketers and celebrities used to invest in tech startups. Now after the popularity of Make In India, companies backed by them are setting up manufacturing facilities.
Sachin Tendulkar-backed RRP Electronics has said it will invest Rs. 5,000 crore in a semiconductor facility located in Maharashtra over the next five years. The company had previously unveiled a 25,000 sq ft facility near Navi Mumbai on 23rd March in an event attended by Tendulkar, who is a “strategic investor” in the venture.
“Embarking on a journey of innovation, RRP Electronics pledges an initial investment of Rs 5,000 crore over the forthcoming five years, with equal vigour and commitment earmarked for phase II,” RRP Electronics said in a statement. “We live in exciting times today, when India is building industries that positively impact the world tomorrow. I’m happy to be backing technologies and entrepreneurs who are part of this story,” said Sachin Tendulkar.
RRP Electronics says it has tied up with a consortium of European companies to set up a one-of-its-kind semiconductor facility. The company will fast-track the work on the project and commence the Outsourced Semiconductor Assembly and Testing (OSAT) with the support of technology partners. The facility will also have an R&D centre to incorporate the latest developments in the field, and will also seek support from the Maharashtra Government to set up the unit comprising multi lines of OSAT fab foundry and manufacturing. The new facility will tap opportunities in sectors such as automobiles, power, electronics and various other industries.
RRP Electronics was registered in February 2024 and is promoted by Raj Chodankar. He is also the promoter of RRP S4E, which makes electronics components for products including thermal cameras, anti-drone systems, and telescopic sights.
In recent years, India has made significant strides in the semiconductor space, positioning itself as a global hub for semiconductor manufacturing. The Indian government’s approval of three new semiconductor manufacturing facilities has marked a pivotal moment in the country’s journey towards becoming a semiconductor hub. In Dholera in Gujarat, the Tata Group has partnered with Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) to fabricate 28 nm semiconductor chips. In Assam, the Tata Group is setting up a OSAT facility, while in Sanand in Gujarat, American giant Micron is setting up a semiconductor testing, marking and packaging (ATMP) plant, where wafers made from silicon are converted into memory chips. The government had earmarked a Rs. 76,000 crore budget for the semiconductor initiative, which is likely to now be topped up in coming years.