The state cabinet on Friday approved a semiconductor manufacturing policy a day before a state delegation is to leave for the USA to attract investment in the sector.
The Odisha Semiconductor Manufacturing and Fabless Policy promises 25% additional subsidy on capital investment to those who approach the state thorough the Indian government. This will be over and above the 50% subsidy available to investors by the Centre. Smaller investors, who may directly approach the state for semiconductor manufacturing, will get 30% subsidy on capital investment.
A state delegation including IT minister Tusharkanti Behera, 5T secretary V K Pandian, development commissioner Anu Garg and IT secretary Manoj Mishra will leave for the US on Saturday on a 10-day visit with an aim to attract investment in the semiconductor sector. The delegation will present the new policy before prospective investors in America, a government source said. San Francisco is one of the places they will be visiting.
Odisha has become the third state after Gujarat and Uttar Pradesh to have a dedicated semiconductor policy. These were earlier covered under electronics and information technology policy.
Mishra said with an investor-friendly policy and state’s track record of hassle-free business environment, the government hopes to attract global investors in the sector. “We hope Odisha will become a leading centre of semiconductor design and manufacturing and a start-up hub for semiconductor research and development,” Mishra said. A government statement said the state hopes to get at least one semiconductor manufacturing unit and around 100 fabless design companies soon. These would generate 5,000 direct and 20,000 indirect employment opportunities.
The cabinet also approved expansion of Mission Shakti Scooter Yojana, to provide interest-free loan to Mission Shakti members up to INR 1 lakh to purchase a scooter. The cabinet gave its nod for a fund of INR 500 crore for Markfed to buy non-paddy farm produces on minimum support price.
