Ahmedabad: On Wednesday, the Gujarat government unveiled a specific plan to entice fresh investment in the semiconductor industry by providing incentives and subsidies to establish businesses there. The "Gujarat Semiconductor Policy," announced by Chief Minister Bhupendra Patel, would be in effect until 2027, according to a statement from the state's Minister of Science and Technology.
According to the plan, the state government would establish "Dholera Semicon City" close to Ahmedabad, where qualified projects will receive subsidies for establishing manufacturing facilities.
According to the minister, Gujarat is now the only state in the nation to establish a specific policy for the semiconductor and display manufacturing industry. "The policy was created in accordance with the India Semiconductor Mission of the Center. We anticipate that over the next five years, our policy would create two lakh new employment in the semiconductor industry in the state," said Vaghani.
According to the plan, a "Dholera Semicon City" will be built by the state government at the Dholera Special Investment Region close to Ahmedabad.
The facility would provide qualified enterprises with a 75% subsidy on the first 200 acres of land purchased for the construction of manufacturing units.
According to the press release, excellent quality water would be delivered to the approved projects for the first five years at a cost of Rs 12 per cubic metre.
The statement said that such projects would be exempt from paying any energy duty and that the qualified industrial units would also receive a power price discount of Rs 2 per unit for the first 10 years of starting production.
In order to entice investors, the state government has also declared that it will fully compensate investors for whatever stamp duty they initially pay when leasing or purchasing land.
The state government will set up a single window process to grant all essential permissions from one location, according to the statement, in order to reduce bottlenecks and deliver speedy clearances to investors.
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