Updated December 30th, 2023 at 19:17 IST
Gujarat's semiconductor policy draws interest from Japanese and South Korean firms
Gujarat unveiled a dedicated policy last year, incentivizing investments in the semiconductor sector through subsidies.
Aligning with India's Semiconductor Mission, Gujarat emerged as the pioneer in introducing its semiconductor policy in 2022. The initiative garnered significant interest from companies in Japan, South Korea, New Delhi, and Bengaluru, indicating a burgeoning investment landscape at the upcoming Vibrant Gujarat Global Summit 2024.
The state's semiconductor policy aims to redefine global supply chain dynamics in the strategic sector and bolster India's economic standing. Micron Technology's decision to establish a $2.75 billion plant near Ahmedabad in Sanand is a testament to Gujarat's thriving semiconductor policy and its appeal to global stakeholders.
Gujarat unveiled a dedicated policy last year, incentivizing investments in the semiconductor sector through subsidies and incentives for operational setups within the state. Utilising roadshows and delegation visits preceding the Vibrant Gujarat Global Summit, the government emphasised its commitment to sectoral growth.
The semiconductor mission
Expressing enthusiasm for semiconductor research and development, companies from Japan, South Korea, New Delhi, and Bengaluru have exhibited interest in various facets of the semiconductor industry. Discussions are ongoing with both international and domestic entities to foster substantial projects within Gujarat.
Chief Minister Bhupendra Patel credited the Vibrant Gujarat Summit for the state's strides in the semiconductor industry, highlighting the heightened interest in semiconductor technology.
Underpinning the policy's significance, it aims to generate over 200,000 employment opportunities in the next five years, remaining in effect until 2027. Aligned with the Centre's 'India Semiconductor Mission,' the policy aims to attract and facilitate new ventures while fostering manufacturing activities in Gujarat.
Union Minister Rajeev Chandrashekhar acknowledged Gujarat's dedication to the semiconductor sector, citing the establishment of major units like Micron and the emergence of over 30 design startups. He highlighted plans for a new Indian semiconductor research centre to amplify research efforts.
Micron Technology CEO Sanjay Mehrotra reiterated the company's commitment to building a semiconductor assembly and test facility in Gujarat, marking a substantial investment in the nation's semiconductor landscape. Mehrotra emphasised the Gujarat team's role in transforming products for global dissemination, positioning Gujarat as a key player in the semiconductor value chain.
(with PTI inputs)
Published December 30th, 2023 at 19:17 IST