Odisha Govt Amends Semiconductor Policy To Attract Investment

(MENAFN- KNN India) Bhubaneswar, Jul 17 (KNN) The Odisha state cabinet, led by Chief Minister Mohan Charan Majhi, approved amendments to the Odisha Semiconductor Manufacturing and Fabless Policy on Wednesday, positioning the state as a competitive destination in India's semiconductor and electronics ecosystem.

The policy revisions introduce enhanced incentives designed to make semiconductor and allied projects more viable and sustainable.

The amendments include 16 significant changes, featuring special packages for initial projects in each category, improved performance-linked incentives, relocation support for companies moving operations to Odisha, and specific incentives for semiconductor park developers.

The updated policy strengthens provisions for research and development activities and workforce development, areas identified as crucial for long-term sector sustainability and innovation.

These changes aim to create a more attractive investment environment in the capital-intensive semiconductor industry.

Under the previous policy framework, Odisha has already secured strategic investments from RIR Power Electronics Ltd, SiCSem Pvt Ltd, and Heterogeneous Integrated Packaging Systems Pvt Ltd.

These approved projects focus on compound semiconductors, assembly testing marking and packaging units, and fabless design operations.

State officials indicated the amendments will ensure compatibility with existing regulatory frameworks, including the Odisha Industrial Facilitation Act and the Industrial Policy Resolution 2022.

An apex committee headed by the chief secretary will oversee policy implementation and expedite project approvals.

Electronics and IT Minister Mukesh Mahaling stated the revised policy framework aims to stimulate investment in the high-technology sector, aligning with the India Semiconductor Mission objectives.

He emphasised that the amendments demonstrate Odisha's commitment to establishing a globally competitive and investor-friendly semiconductor ecosystem.

(KNN Bureau)

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