Odisha Leads the Way with a Comprehensive Semiconductor Policy
Odisha’s semiconductor policy has taken a giant leap forward, surpassing the ones introduced by Gujarat and Uttar Pradesh. The policy offers a remarkable 25% incentives for Silicon, Compound, Display & ATMP, in addition to the Government of India’s 50% incentive. Furthermore, it grants a substantial 20% incentives for Fabless product/IP companies, making it the first state to do so. Odisha’s commitment to fostering talent and innovation is evident, as it plans to support 25 undergraduate and 25 postgraduate institutes for R&D and capacity building.
Embracing the Entire Chip Ecosystem
Unlike its predecessors, Odisha’s Semiconductor Policy takes a comprehensive approach, targeting all aspects of the semiconductor industry. This includes semiconductor manufacturing, packaging and testing, and fabless design and R&D. By offering incentives for fabless companies in addition to the Government of India’s incentives under the future Design scheme, Odisha has positioned itself as a pioneering hub for semiconductor development.
Attracting High-Value Investments
The success of Gujarat’s semiconductor policy has been evident with two significant proposals attracted to the state – the $19.5 billion Vedanta semiconductor plant and Micron’s $2.75 billion assembly and testing plant. However, Odisha’s more progressive policy is expected to further enhance its investment appeal, enticing more high-value projects and driving rapid growth in the semiconductor sector.
In conclusion, Odisha’s semiconductor policy stands out as a trailblazer in the field, outshining Gujarat and Uttar Pradesh with its comprehensive approach, lucrative incentives, and strong focus on fostering talent and innovation. As a result, Odisha is set to become the preferred destination for semiconductor companies seeking a conducive ecosystem to thrive and prosper.
