Bhubaneswar: The Odisha cabinet Friday approved Semiconductor Manufacturing and Fabless Policy to develop a robust semiconductor ecosystem and attract semiconductor value chain investments in the state, a source said.
The proposed Odisha Semiconductor Manufacturing and Fabless Policy will develop an end-to-end semiconductor ecosystem in the state, the source added.
At least one semiconductor manufacturing unit and around 100 fabless design companies are expected to be established generating around 5,000 direct employment and 20,000 indirect employment during the policy period of seven years, the source informed.
The program aspires to contribute to the national semiconductor ecosystem development objectives and aims to transform Odisha into a leading centre of semiconductor design and manufacturing.
It would also create a startup hub for semiconductor R&D and design companies and primary repository of semiconductor design talent in the country.
The policy, an official source said, will facilitate investors to enter into the manufacturing of semiconductor /electronic chips in the State of Odisha.
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Odisha, a state in eastern India, has been making significant progress in industrialization over the past few years. The state’s strategic location, abundant natural resources, and investor-friendly policies have made it an attractive destination for businesses to set up their operations.
The state government has taken several initiatives to promote the Electronics System Design and Manufacturing (ESDM) sector in the state, concluded the source.
UNI