The Odisha Semiconductor Manufacturing and Fabless Policy promises a 25% additional subsidy on capital investment to those who approach the state through the Centre.An official statement issued by the govt on Wednesday read, "This will be India's first compound semiconductor fab, significantly enhancing domestic manufacturing capabilities with high-value processes like epitaxial layer deposition and packaging."
Harshad Mehta, promoter and chief strategy officer of RIR Power Electronics, said the project will be fully operational in three years.
"Odisha will manufacture for global markets and create significant technical and other employment as well as bring valuable economic benefits to growth focussed infrastructure sectors like railways, grid, EV, renewable (green hydrogen), aerospace and defence," said Mehta.
RIR is India's sole manufacturer of silicon-based power devices, serving clients like BHEL, ABB and the Indian Railways.
"This project is poised to position Odisha as a leader in India's semiconductor ecosystem, driving industrial growth, local supply chain development and skilling opportunities," the electronics and IT department said.
The Odisha Semiconductor Manufacturing and Fabless Policy promises a 25% additional subsidy on capital investment to those who approach the state through the Centre.
This will be over and above the 50% subsidy available to investors by the Centre. Smaller investors, who may directly approach the state for semiconductor manufacturing, will get a 30% subsidy on capital investment, the policy stated.
Odisha has become the third state after Gujarat and Uttar Pradesh to have a dedicated semiconductor policy. These were earlier covered under the electronics and information technology policy.
