The Odisha Cabinet has given the nod to Odisha Semiconductor Manufacturing & Fabless Policy to facilitate investors to enter into Semiconductor/Electronic Chips manufacturing in Odisha. With this policy, the state aims to transform Odisha into a leading semiconductor design and manufacturing center.
After decades of half-baked efforts, India is leaving no stone unturned to bring the semiconductor ecosystem including chip manufacturing within the country. States too are chipping in with semiconductor policies to make this more lucrative. With this policy, the state aims to transform Odisha into a leading semiconductor design and manufacturing center.
The state is hopeful that under the policy, at least one semiconductor manufacturing unit and 100 fabless design companies will be set up in Odisha. The semiconductor ecosystem in Odisha is also expected to generate around 5000 direct employment opportunities and 20,000 indirect employment opportunities during the policy period of 7 years.
This development follows the news that a UK-based company plans to set up a semiconductor fabrication unit in Odisha’s Ganjam district. And is expected to invest Rs 30,000 crore in the first phase.
Gujrat was the first state to introduce a semiconductor policy and it already has an investment commitment from US chip maker Micron for a testing and packaging plant. In Micron’s case, it will get a 50 percent incentive of the project cost from the center and another 20 percent from Gujrat. For the $2.75 billion plant, Micron will be investing $825 million.