 "chip, semiconductor")
Chip maker Micron Technology's decision to set up a $2.75 billion plant at Sanand near Ahmedabad indicates that Gujarat's dedicated semiconductor policy is bearing fruit and attracting global players, the state government has said.
Gujarat had in July last year announced a dedicated policy to draw new investments in the semiconductor sector by offering incentives and subsidies to start operations in the state.
The Gujarat Semiconductor Policy', unveiled by Chief Minister Bhupendra Patel, will remain in force till 2027. The policy has been designed in line with the Centre's India Semiconductor Mission' to attract and facilitate new projects in the sector, the government said in a release.
Under the policy, the state government will set up Dholera Semicon City' near Ahmedabad where eligible projects will be given subsidies for setting up manufacturing units, it said ahead of the state's Vibrant Gujarat Global Investor Summit next month.
At the facility, eligible projects will be given a 75 per cent subsidy on the purchase of the first 200 acres of land for setting up manufacturing units, the state government said.
The eligible projects will be provided with good quality water at the rate of Rs 12 per cubic metre for the first five years, the release said. They would also get a power tariff subsidy of Rs 2 per unit for the first 10 years of going into production, it said, adding that such projects will be exempted from paying any electricity duty.
In June this year, the Gujarat government signed a Memorandum of Understanding with computer storage chip maker Micron for setting up a $2.75-billion semiconductor assembly and test facility at Sanand in Ahmedabad district.
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Highlighting the country's potential in the sector, Prime Minister Narendra Modi had once said, India is ticking all the checkboxes to become a great energy conductor for the semiconductor industry.
The increasing reliance on semiconductors has become the bedrock of global technological advancements across industries, from computing and communication to healthcare, said the release.
CM Patel recently highlighted the Vibrant Gujarat Global Summit's influence in taking the state's semiconductor industry to a global scale.
PM Modi often says Gujarat is the combination of trade and tradition, commerce and culture, industry and entrepreneurship. This image of Gujarat has been given a global platform by the PM through the medium of Vibrant Gujarat Global Summit, he had said.
With Gujarat's new semiconductor policy in place, global players are already keen on investing in the state, the release said.
Sanjay Mehrotra, CEO of Micron Technology, earlier threw light on the employment potential of their plant in Gujarat. We estimate that our project here in Gujarat will create nearly 5,000 direct jobs plus an additional 15,000 indirect jobs in the community over the coming years, he had said.
If industry leaders are to be believed, it won't be long before Gujarat will be known as the world's prominent hotspot for semiconductor production.
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