Synopsis
Madhya Pradesh's Chief Minister announced a new semiconductor manufacturing policy aimed at attracting Rs 2,700 crore in investments and creating 14,400 jobs over five years during the Global Investors Summit (GIS) - 2025. The policy includes subsidies and partnerships to enhance the state's manufacturing capabilities.Key Takeaways
- Madhya Pradesh unveils semiconductor policy.
- Expected investment of Rs 2,700 crore.
- Creation of 14,400 jobs in five years.
- 25% subsidy for investors.
- Subsidized electricity for 10 years.
Bhopal, Feb 8 (NationPress) The government of Madhya Pradesh is set to unveil its semiconductor manufacturing policy aimed at attracting investors during the forthcoming Global Investors Summit (GIS) - 2025, which is slated for February 24-25 in this city.
In remarks made on Friday, the Chief Minister indicated that the state has devised a semiconductor policy that aims to bring in an investment of Rs 2,700 crore and is projected to create 14,400 job opportunities within the next five years.
The Chief Minister noted a rising enthusiasm and interest in this sector among prospective investors.
Thus, there is an expectation of heightened investments in this domain. He further stated that the policy will facilitate the establishment of electronics and semiconductor manufacturing hubs in the state.
It is important to mention that the state Cabinet has endorsed the 'Madhya Pradesh Semiconductor Policy 2025' following Chief Minister Mohan Yadav's four-day visit to Japan.
To entice investors, the state government has proposed a 25 percent subsidy under the new policy. Moreover, industries will benefit from subsidized electricity priced at Rs 2 per unit for a duration of 10 years.
The policy also includes a provision for Public-private partnership (PPP) models.
"There is a growing enthusiasm and interest among investors attending the Global Investors Summit regarding this sector, which is expected to attract substantial investment to the state. Implementation of this policy has significantly increased the prospects for large-scale investments in semiconductor and electronics manufacturing in the state," the Chief Minister stated.
He further emphasized that this policy will be crucial in advancing the state’s semiconductor manufacturing capabilities, attracting both domestic and international investors, and positioning Madhya Pradesh as a leader in global competition. It will also bolster the local economy and create job opportunities for the youth.
"Prime Minister Narendra Modi believes that India's semiconductor sector is on the verge of a revolution, aiming for 100 percent domestic manufacturing of electronics and semiconductors," Yadav added.
The Chief Minister also mentioned that the state government is making commendable advancements to present investors with more efficient opportunities, highlighted by the introduction of sector-specific summits at GIS.
