Odisha approves a cutting-edge semiconductor policy, aiming to magnetize U.S. investment, with promising subsidies and a dedicated state delegation.
The freshly-minted Odisha Semiconductor Manufacturing and Fabless Policy extends a lucrative 25% extra subsidy for those aligning with the Indian government. This stands in addition to the Centre’s already generous 50% subsidy. Direct state entrants, as they’re looking at a wholesome 30% capital investment subsidy.
A high-profile delegation, including key figures like IT minister Tusharkanti Behera, 5T secretary V K Pandian, and development commissioner Anu Garg is set for a 10-day U.S. expedition, targeting investment traction. Their agenda is to pitch Odisha’s game-changing policy to American investors, with San Francisco high on their visitation list.
Joining the elite league of Gujarat and Uttar Pradesh, Odisha now flaunts a dedicated semiconductor blueprint. “Odisha’s investor-centric stance, coupled with our business-friendly ethos, positions us as a magnet for global tech magnates,” articulated IT secretary, Manoj Mishra. The optimistic projection is one major semiconductor unit, a flurry of around 100 design entities, and a potential employment boom impacting up to 25,000 individuals.
