The Tamil Nadu government has unveiled its “Semiconductor and Advanced Electronics Policy 2024” in a bid to increase the state’s share of India’s electronics exports to 40%. The policy aims to attract anchor investments in semiconductor and advanced electronics manufacturing and create a skilled talent pool of over two lakh persons by 2030.
To achieve its objectives, the policy focuses on creating a semiconductor design ecosystem through incentives, funding, and industry-academia collaboration. It also offers a range of incentives to eligible companies, including capital subsidy, special training incentive, product testing and prototyping incentive, and land cost incentive.
The incentives package is applicable to new and expansion projects with investments made from January 1, 2024. Companies must meet a minimum investment threshold of ₹200 crore and a minimum employment threshold of 150 jobs for the initial investment. Additional investments of ₹50 crore would require the creation of a minimum of 35 jobs.
The implementation of the policy will be overseen by Guidance Tamil Nadu, the state’s investment promotion agency, while the State Industries Promotion Corporation of Tamil Nadu Ltd. (SIPCOT) will handle the disbursement of incentives. A single-window portal will also be set up to streamline clearance, license, and approval processes.
Tamil Nadu is already a hub for semiconductor design, hosting several global research and development centers. The state boasts over 100 academic institutions that offer courses in VLSI, electronics design, nanotechnology, and other relevant fields, providing a skilled talent pool for the semiconductor industry. Additionally, the state’s extensive network of Industrial Training Institutes (ITIs) plays a vital role in supporting electronics manufacturing.
With the introduction of the Semiconductor and Advanced Electronics Policy 2024, Tamil Nadu aims to position itself as a leading destination for semiconductor manufacturing and advanced electronics development, boosting its contributions to India’s electronics exports.
The source of the article is from the blog radiohotmusic.it