Gujarat Announces Semiconductor Policy to Attract New Investments

24 Apr,2023 | Avirahi Group

Gujarat has advanced in the technology revolution thanks to the Chief Minister Shri Bhupendra Patel’s leadership. In the presence of Shri Jitu Vaghani, Minister of Science and Technology, Shri Pankaj Kumar, Chief Secretary, Shri Pankaj Joshi, Additional Chief Secretary to the Chief Minister, and Shri Vijay Nehra, Secretary of Science and Technology Department, the CM has announced the “Gujarat Semiconductor Policy 2022-2027.

Gujarat has earned the honour of being the first state in the nation to declare a dedicated policy to help the semiconductor and display manufacturing sector, according to Minister of Science and Technology Department Shri Jitu Vaghani. In order to encourage quick and inclusive growth in the state’s domestic semiconductor chip manufacturing industry, “The Gujarat Semiconductor Policy 2022 to 2027” has been announced. This policy will result in the creation of almost two lakh jobs over the following five years. There has been a rise in the residential projects dholera because of the promising projects coming up. In fact, as the real estate experts are suggesting, this is the perfect time to go for dholera plot booking.

Minister Shri Jitu Vaghani remarked that under the visionary leadership of Prime Minister Shri Narendra Modi, practical steps are being taken to create an independent India. The Government of India formed the India Semiconductor Mission (ISM) with the objective of developing self-reliance in the semiconductor chip manufacturing industry and semiconductor manufacturing in India. A strategy has been revealed to draw capital to the industry. The Indian government has also committed a 76000 crore rupee investment in this. To encourage investment in Gujarat’s chip manufacturing industry, Chief Minister Shri Bhupendra Patel has established the Semiconductor Policy, which is similar to this Government of India programme.
Gujarat has become the first state to announce a policy to encourage the semiconductor and display manufacturing industry with the release of this strategy. In addition to the assistance provided by the Government of India, additional assistance at the rate of 40% of the capital assistance provided by the Government of India will be provided by the State Government for the projects approved by the India Semiconductor Mission under the Ministry of Electronics and Information Technology of the Government of India.

According to this policy, Dholera Semicon City will be established in the Dholera Special Investment Region (Dholera SIR), and qualified projects will receive 75% subsidy on their initial land acquisition of 200 acres and 50% subsidy on any extra land needed for fab endeavours, upstream/downstream projects, and other activities recognised under ISM.
He also said that for the first five years, quality water will be delivered to all qualified projects at a cost of Rs. 12 per cubic metre, and for the following five years, the cost would climb by 10% on an annual basis. According to the guidelines established by the Gujarat Electricity Duty Act, 1958, a power tariff discount of Rs. 2 per unit has been offered, and all eligible projects are exempt from paying electricity duty.

A one-time refund of 100% of the stamp duty and registration fee paid to the government by qualified projects for the lease, sale, or transfer of land for the project’s purposes has also been provided. To easily obtain numerous permissions, a single window mechanism will be put up. In the next five years, 2 lakh people are predicted to find employment.

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