Historic Milestone: Gujarat Unleashes Revolutionary Semiconductor Policy, Leading India into a Technological Future

Gujarat is spearheading India’s semiconductor ambitions with its ‘Gujarat Semiconductor Policy 2022-2027,’ aligning with PM Narendra Modi’s Viksit Bharat@2047 vision. Under Chief Minister Bhupendra Patel’s guidance, the state has established the ‘Gujarat State Electronics Mission’ to drive semiconductor self-sufficiency.

The state has already made significant strides. Chief Minister Patel recently inaugurated Micron’s ATMP plant in Sanand, costing Rs 22,500 crore. In Dholera’s upcoming ‘Semicon City,’ Tata Electronics and Taiwan’s PSMC plan a Rs 91,000 crore investment to set up India’s first AI-enabled semiconductor fabrication facility.

Additionally, Gujarat has approved key projects like CG Power and Renesas’ Rs 7,500 crore OSAT facility in Sanand, and a Rs 3,300 crore chip production unit by Kaynes Semicon. These developments are expected to significantly boost local manufacturing, create thousands of skilled jobs, and reduce India’s import reliance in sectors such as electronics and automotive.

To support this burgeoning industry, Gujarat offers a comprehensive incentive package. It includes a complete refund of stamp duty and registration fees for new projects, a Rs 2 per unit electricity subsidy, affordable water rates, and exemption from electricity duty. For attracting companies to Dholera, envisioned as India’s first Greenfield Smart City, the state offers up to 75% subsidy on land for fabrication projects.

This aggressive push has already drawn over Rs 1.24 lakh crore in planned investments from major semiconductor firms, potentially creating around 53,000 jobs. This aligns with the national ‘India Semiconductor Mission,’ initiated in 2021 with Rs 76,000 crore, aimed at decreasing import dependency and positioning India strategically in the global semiconductor market, which is expected to reach $63 billion by 2026.

Original Story https://www.indiatodayne.in/national/story/gujarat-becomes-first-indian-state-to-launch-dedicated-semiconductor-policy-1117426-2024-11-07?utm_source=rssfeed
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Publish Date: 2024-11-07 21:03:00