Kaynes Semicon Private Limited, a wholly-owned subsidiary of Kaynes Technology India Limited, on Tuesday said it has executed the Fiscal Support Agreement and related transaction documents with the India Semiconductor Mission (ISM) under the Government of India’s semiconductor policy framework.
The company said the execution of the agreements marks a key procedural milestone required to receive fiscal support under the scheme guidelines notified by ISM. The development is part of the government’s broader initiative to build domestic semiconductor manufacturing capabilities.
Amitesh Kumar Sinha, CEO of the India Semiconductor Mission, said the signing represents an important step for the project and expressed confidence in continued progress aligned with the Mission’s objectives.
Raghu Panicker, CEO of Kaynes Semicon, said the agreement advances the company’s semiconductor manufacturing plans and reaffirmed its commitment to operational excellence, compliance and governance. He added that Kaynes Semicon remains focused on building a globally competitive semiconductor ecosystem from India.
Ramesh Kannan, Executive Vice Chairman of Kaynes Technology India Limited, said the milestone reflects the company’s strategic intent to contribute to India’s digital and manufacturing ambitions through the semiconductor sector.
India Semiconductor Mission operates under the Digital India Corporation and aims to develop a sustainable semiconductor and display ecosystem in the country.