On July 21, the Odisha Cabinet took a significant step towards advancing the semiconductor industry in the state by approving the Odisha Semiconductor Manufacturing & Fabless Policy. This forward-looking policy aims to attract and facilitate investors to establish Semiconductor/Electronic Chips manufacturing units in Odisha.
The primary objective of this policy is to position Odisha as a leading hub for semiconductor design and manufacturing in the country. By fostering a conducive environment for semiconductor companies, the state government anticipates the establishment of at least one semiconductor manufacturing unit and the creation of 100 fabless design companies within its borders.
The implementation of the semiconductor policy is also expected to have a profound impact on employment in the region. Over the course of the seven-year policy period, it is projected to generate around 5,000 direct job opportunities and an additional 20,000 indirect employments, thus contributing to the state’s economic growth.
This strategic move comes in response to a substantial investment proposal from a UK-based company planning to set up a semiconductor fabrication unit in Odisha’s Ganjam district. The company is poised to invest a staggering sum of Rs 30,000 crore in the initial phase of the project. Earlier, on March 26, the Indian unit of SRAM & MRAM Group, known as SRAM & MRAM Technologies and Projects India Pvt Limited, had signed a memorandum of understanding (MoU) with the Odisha government for establishing the semiconductor unit in the state.
The implementation of the Odisha Semiconductor Manufacturing & Fabless Policy is anticipated to revolutionize the semiconductor ecosystem in the state, opening up new avenues for technological advancement and economic growth. It reflects Odisha’s commitment to becoming a force to be reckoned with in the semiconductor industry, while also fortifying India’s position on the global technology map.
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