Assam plans to invest 40k crore in the semiconductor sector
While addressing the State Assembly, Assam Chief Minister Himanta Biswa Sarma disclosed that the state is in talks and hoping to acquire Rs 40,000 crore in investments in the semiconductor industry.
After Uttar Pradesh, Gujarat and Orissa now Assam announced a policy for semiconductors. The Assam government has stated that a new policy has been created to facilitate investment in the semiconductor industry to the tune of 40,000 crore. To draw semiconductor manufacturing facilities to Assam, the state government has approved Assam Electronics (Semiconductor) Policy, 2023.
The state government has approved the Assam Electronics Policy 2023
Chief Minister Himanta Biswa Sarma speaking at the state assembly said, “We are in good discussion and likely to get investment to the tune of Rs40,000 crore in the semiconductor industry. We are competing with three states including Gujarat and Orissa and are hopeful of making the breakthrough.” The Chief Minister added, “The state government has approved the Assam Electronics Policy 2023.”
According to the report the Chief Minister said, “Advanced states like Uttar Pradesh, Gujarat and Orissa have announced a policy for semiconductors. We have announced a policy where there will be a capital investment subsidy. With our new production-linked incentive policy, Assam will soon attract investments to manufacture semiconductors in the state.”
Many industrialists have expressed interest as a result of the river Brahmaputra’s accessibility to clean, pure water, the CM noted.
“We have some positive vibes. Due to the Clean and pure water of the river Brahmaputra, many industrialists have evinced interest. For the semiconductor industry, clean water is required. Many are asking if we have a policy or not. Today, we have approved a policy and we have positive vibes. I am very hopeful.” Chief Minister added.
Speaking to the Assembly, CM Sarma remarked that the state only produces 400 MWs of power at Rs 9, hence its domestic tariff is lower than that of other states because of this.
It will become less reliant on other regions thanks to this substantial investment, which is expected to improve its power generation capacities.
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