Amendment of Odisha Semiconductor Policy gets Cabinet nod


Bhubaneswar, Feb 22: The Odisha Cupboard on Thursday authorized a proposal for modification of the Odisha Semiconductor Manufacturing and Fabless Coverage 2023.

With a view to appeal to traders for establishing of producing models of semiconductors, digital chips and fabless design of electronics merchandise within the state, the cupboard authorized the proposal within the Odisha Cupboard immediately. 

To determine Odisha as a nucleus for semiconductor design and manufacturing, the Authorities of Odisha had earlier launched the Semiconductor Manufacturing and Fabless Coverage-2023 in September 2021.

This coverage goals to foster a thriving ecosystem by establishing a startup hub for semiconductor R&D, design and manufacturing corporations and likewise, nurturing the nation’s pool of semiconductor design expertise.

Nonetheless, the semiconductor trade in Odisha remains to be in its infancy. Recognizing the dynamic nature of the aggressive panorama and the evolving calls for of potential traders, sure amendments to the coverage have been deemed obligatory. These amendments are designed to bolster provisions for fiscal assist beneath curiosity subvention, Manufacturing Linked Incentives (PLI), and investments in R&D and ability improvement coaching.

Below the revised provisions, mega initiatives exceeding INR 500 Cr in funding can now effortlessly entry an higher restrict of INR 25 Cr every year for 7 years in the direction of curiosity subsidy, because the earlier 5% capping for curiosity subvention has been eradicated.

Moreover, such mega initiatives are entitled to reimbursement of R&D expenditures as much as INR 2 Cr yearly for 10 years.

 





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