The move aspires to lead the country’s long term strategies for perking-up display and semiconductor manufacturing units and also the semiconductor design cluster
The state government of Karnataka has recently signed a deal (MoU) with Israel-based International Semiconductor Consortium (ISMC), which proclaimed to spend $3 billion (Rs 22,900 Crore) in the state to commence the nation's first of its kind biggest semiconductor manufacturing unit. Most importantly, the investment is speculated to craft a 65 nm Analog Semiconductor Fabrication plant. The deal has been finalized in presence of the state’s CM Basavaraj Bommai, Additional Chief Secretary in the Department of IT, BT Dr EV Ramana Reddy on behalf of Karnataka and ISMC director Ajay Jalan.
This move is at par with the union government’s India Semiconductor Mission, which aspires to lead the country’s long term strategies for perking-up display and semiconductor manufacturing units and also the semiconductor design cluster. According to the experts, the deal with ISMC will help the state to prepare its roadmap in semiconductor technology coupled with expired teams, top-notch policies, cutting-edge infrastructures, and highly efficient skilled workers. The CM termed it as the most imperative signed deal of the state ever because competition of industrialization has escalated in every state in India.
Bommai said, “Karnataka understands that it’s not just the fiscal incentives that matter but the availability of a conducive eco-system and overall ease in operations are also important. The state has one of the best infrastructures in the country and an abundant skilled talent pool. As a state, we are not just trying to bring down the entry barriers for businesses but also make it easier to exit businesses, should it be so required.”
The latest proclamation by Karnataka authorities shows that the government’s incentive schemes to make India into a global manufacturing unit in electronics and semiconductor is turning into a reality. The latest semiconductor factory by ISMC is expected to create more than 10,000 indirect employment and 1,500 direct jobs.