Prime Highlight
- The funds will support a $997 million project for a semiconductor facility in Dholera, Gujarat.
- The facility will produce Silicon (Si) and Silicon Carbide (SiC) power semiconductors, reducing India’s reliance on imports and supporting EVs, solar, and electronics sectors.
Key Facts
- Nextgen plans to raise ₹10–15 billion ($113–170 million) in the next 12 months to support the project.
- Construction begins in April 2026, with operations expected to start within 15 months of commencement.
Background
Nextgen Semiconductors has announced plans to raise ₹10–15 billion (about $113 to $170 million) in the next 12 months. The funds will support the company’s $997 million plan to build a new semiconductor manufacturing facility in Dholera, Gujarat.
The plant will specialize in the manufacture of Silicon (Si) and Silicon Carbide (SiC) power semiconductors. These are the key elements used in electric cars, solar power plants, network centers, and industrial electronics. The goal is to make India less dependent on semiconductor imports and boost local production.
Construction at the Gujarat site is set to start by April 2026. Nextgen expects the plant to be fully operational within 15 months of construction starting. The project has already secured land and is currently under review by the India Semiconductor Mission.
Nextgen’s strategy combines global technology expertise with local execution. The facility will create a full ecosystem, covering every step from wafer production to making power electronics components. This approach will support India’s goal to shift from being just a semiconductor user to becoming a producer and supplier in the global market.
Nextgen is supported by both Indian and foreign investors, such as IVP of Malaysia, Transworld, Myotic, and the individual investors Malvika Agarwal, Harsh Agarwal, and Ayush Goel. The company has also collaborated with Hitachi Energy and partners to introduce high technology and market access in India.
According to a Nextgen spokesperson, the project will help to consolidate the semiconductor industry in India and help the nation to achieve technological independence. This decision shows the intensifying attempt to build India’s semiconductor ecosystem and expand non-dependence on foreign suppliers.
