Mumbai, July 22 -- The agreement is aimed at setting up an advanced OSAT (Outsourced Semiconductor Assembly and Test) facility in the state.

Under the agreement, the Madhya Pradesh government has allotted 50 acres of land on the Ujjain-Indore Corridor for the proposed facility.

The project entails a proposed investment of Rs 6,200 crore and is aimed at strengthening India's semiconductor manufacturing ecosystem, accelerating the development of semiconductor devices for strategic applications, generating employment, and supporting the growth of a domestic semiconductor ecosystem.

Paras Semiconductors, the semiconductor business of Paras Defence & Space Technologies, has been established to develop advanced semiconductor capabilities for...