MiPhi Semiconductors Private Limited, the joint venture between Micromax Informatics Ltd and Taiwan-based PHISON Electronics, has announced plans to invest ₹1,000 crore to expand semiconductor manufacturing operations in India.
The company is targeting revenue of more than ₹1,000 crore during the current fiscal year as it scales production capabilities and strengthens its position in enterprise storage and semiconductor solutions.
Commenting on the expansion, MiPhi co-founder Rahul Sharma said the company is witnessing rapid growth and moving into “triple-digit growth this year alone.”
MiPhi currently manufactures enterprise solid-state drives (SSDs) and embedded memory products catering to cloud service providers, hyperscale data centres, automotive companies, and connected device manufacturers. The company has already started exports from its manufacturing facility in Greater Noida.
The expansion reflects growing investments in India’s semiconductor and electronics manufacturing ecosystem as the country accelerates efforts to strengthen domestic chip production, storage technology development, and AI infrastructure capabilities under broader Make in India initiatives.
As part of the collaboration, PHISON Electronics will also transfer research and development capabilities along with controller technologies to Indian engineering teams, supporting local semiconductor innovation and advanced storage technology development.
MiPhi is additionally developing an AI Adaptive Memory software layer designed to optimize enterprise memory performance and reduce dependence on expensive GPU infrastructure for certain AI workloads and enterprise computing applications.
The move comes amid rising global demand for AI infrastructure, high-performance storage systems, enterprise memory solutions, and semiconductor technologies driven by rapid growth in generative AI, cloud computing, connected devices, and data-intensive applications.
India has been actively promoting semiconductor manufacturing, electronics production, and AI infrastructure investments as part of its long-term strategy to strengthen technology self-reliance, digital infrastructure, and domestic manufacturing capabilities.
The latest investment further highlights increasing collaboration between Indian and international semiconductor companies as global supply chains diversify and enterprises seek alternative manufacturing and engineering hubs.
