Ahmedabad: The Gujarat authorities on Wednesday introduced a devoted coverage to draw new funding within the semiconductor sector by providing incentives and subsidies to start out operations within the state. Chief Minister Bhupendra Patel unveiled the ‘Gujarat Semiconductor Policy’, will stay in drive until 2027, state Science and Technology Minister Jitu Vaghani mentioned in a press release.
Under the coverage, the state authorities will arrange ‘Dholera Semicon City’ close to Ahmedabad the place eligible initiatives shall be given subsidy for establishing manufacturing models, the discharge mentioned.
Gujarat has now develop into the primary state within the nation to have a devoted coverage for the semiconductor and show manufacturing sector, the minister claimed.
“The policy has been designed in line with the Centre’s India Semiconductor Mission. We expect that our policy would generate two lakh new jobs in the semiconductor sector during the next five years in the state,” Vaghani mentioned.
Under the coverage, the state authorities will arrange ‘Dholera Semicon City’ within the Dholera Special Investment Region close to Ahmedabad.
At the ability, eligible initiatives shall be given 75 per cent subsidy on buy of first 200 acres of land for establishing manufacturing models.
The eligible initiatives shall be supplied good high quality water on the fee of Rs 12 per cubic meter for the primary 5 years, the discharge mentioned.
The eligible manufacturing models would additionally get energy tariff subsidy of Rs 2 per unit for the primary 10 years of going into manufacturing, it mentioned, including that such initiatives shall be exempted from paying any electrical energy obligation.
To encourage buyers below the coverage, the state authorities has additionally introduced to reimburse 100 per cent of stamp obligation which buyers would pay for the primary time for taking land on lease or on land switch.
To take away bottlenecks and supply fast clearances to buyers, the state authorities will set up a single window mechanism to offer all the mandatory approvals from one place, the discharge mentioned.
Source: auto.economictimes.indiatimes.com