The Odisha state cabinet has approved a Semiconductor Manufacturing policy with the aim of attracting investment in the sector. The policy, known as the Odisha Semiconductor Manufacturing and Fabless Policy, offers additional subsidies on capital investment to those who approach the state through the Indian government. Investors will receive a 25% subsidy on top of the existing 50% subsidy provided by the Centre. Smaller investors who approach the state directly for semiconductor manufacturing will receive a 30% subsidy.

A state delegation, including IT Minister Tusharkanti Behera, 5T Secretary V K Pandian, Development Commissioner Anu Garg, and IT Secretary Manoj Mishra, will be visiting the United States for a 10-day trip to promote investment in the semiconductor sector. Their main objective is to present the new policy to potential investors in America.

Odisha will become the third state in India, after Gujarat and Uttar Pradesh, to have a dedicated semiconductor policy. Previously, the sector was covered under the electronics and information technology policy. The government hopes that with an investor-friendly policy and a reputation for a hassle-free business environment, Odisha will attract global investors and become a leading center for semiconductor design and manufacturing. The government expects the policy to attract at least one semiconductor manufacturing unit and around 100 fabless design companies, creating 5,000 direct and 20,000 indirect employment opportunities.

In addition to the semiconductor policy, the cabinet has also approved the expansion of the Mission Shakti Scooter Yojana, which will provide interest-free loans of up to Rs 1 lakh to Mission Shakti members to purchase scooters. The cabinet has also allocated a fund of Rs 500 crore for Markfed to purchase non-paddy farm produce at the minimum support price.

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