Gujarat Unveils India’s First Comprehensive Semiconductor Policy

ENA State 2024-11-11 15:27:19 Gandhinagar, Nov 11 (KNN) In a significant development for India's technological advancement, the Gujarat government has launched the country's first comprehensive semiconductor policy spanning 2022-2027. Under Chief Minister Bhupendra Patel's leadership, this pioneering initiative supports Prime Minister Narendra Modi's vision for a developed India by 2047, establishing the Gujarat State Electronics Mission to oversee implementation. The policy has already attracted major investments, with Micron Technology breaking ground on a Rs 22,500 crore semiconductor assembly and testing facility in Sanand. In a parallel development, Tata Electronics Private Limited has partnered with Taiwan's Powerchip Semiconductor Manufacturing Corporation to construct India's first AI-enabled semiconductor fabrication plant in Dholera, representing an investment of over Rs 91,000 crore. Further strengthening Gujarat's semiconductor ecosystem, CG Power and Renesas are investing Rs 7,500 crore in an Outsourced Semiconductor Assembly and Test facility in Sanand. Additionally, Kaynes Semicon has received approval for a Rs 3,300 crore facility, expected to produce 6 million chips daily. The state government has implemented an attractive incentive package, supplementing central government support with a 40 per cent capital expenditure subsidy. Additional benefits include complete reimbursement of stamp duty and registration fees, subsidised electricity at Rs 2 per unit, and preferential water rates at Rs 12 per cubic metre. Dholera, designated as India's first Greenfield Smart City, is being developed as 'Semicon City' with land acquisition subsidies up to 75 per cent for semiconductor units. The region is positioned as a strategic hub for semiconductor manufacturing and innovation. The policy has successfully attracted investments totalling Rs 1.24 lakh crore from four major companies, with projections indicating the creation of 53,000 jobs across the state. This initiative aligns with the central government's India Semiconductor Mission, launched in 2021 with a Rs 76,000 crore budget. Industry analysts note that India's semiconductor market, valued at USD 15 billion in 2020, is expected to grow substantially, with projections exceeding USD 63 billion by 2026, positioning Gujarat at the forefront of India's semiconductor manufacturing ambitions. (KNN Bureau) 39868 https://knnindia.co.in/news/newsdetails/state/gujarat-unveils-indias-first-comprehensive-semiconductor-policy 2024-11-11 15:27:19 knnindia.co.in Gujarat Unveils India’s First Comprehensive Semiconductor Policy