Bhopal, Feb 8 The Madhya Pradesh government will present its semiconductor manufacturing policy to attract investors during the upcoming Global Investors Summit (GIS) - 2025 scheduled for February 24-25 here.
In a statement on Friday, the Chief Minister said that the state government has prepared a semiconductor policy, which is expected to attract an investment of Rs 2,700 crore and aspired to create 14,400 job opportunities in the state in the next five years.
The Chief Minister said that enthusiasm and interest are being seen in this sector among potential investors.
Therefore, it is expected that there will be increased investment in this sector. He added that the policy will help in setting up electronics and semiconductor manufacturing centers in the state.
Notably, the state Cabinet has approved the 'Madhya Pradesh Semiconductor Policy 2025' after Chief Minister Mohan Yadav returned from four-day visit to Japan.
To attract investors, the state government has made a proposal for subsidy of 25 per cent to under the new policy. Additionally, industries will be provided subsidised electricity at the rate of Rs 2 per unit for 10 years.
It has also made a provision for Public-private partnership (PPP) mode in the new policy.
"There is a growing enthusiasm and interest among investors attending the Global Investors Summit regarding this sector, which is expected to attract substantial investment to the state. Implementation of this policy has significantly increased the prospects for large-scale investments in semiconductor and electronics manufacturing in the state," Chief Minister said in a statement.
The Chief Minister added that this policy will play a vital role in advancing the state in semiconductor manufacturing, attracting domestic and foreign investors, and positioning the state as a leader in global competition. It will also strengthen the local economy and generate employment opportunities for the youth.
"Prime Minister Narendra Modi believes that India's semiconductor sector is on the brink of a revolution, intending to achieve 100 per cent domestic manufacturing of electronics and semiconductors," Yadav added.
Chief Minister further stated that the state government is making significant strides to offer investors more effective opportunities, highlighted by the introduction of sector-specific summits at GIS.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor