To account for 40% of India’s electronics exports, the Tamil Nadu government on Sunday rolled out its ‘Semiconductor and Advanced Electronics Policy 2024’ at the Global Investors Meet (GIM).
The policy seeks to attract anchor investments in semiconductor and advanced electronics manufacturing and create a skilled talent pool of over two lakh persons by 2030. It seeks to create a semiconductor design ecosystem in the State through incentives, funding and industry-academia collaboration. The policy will be valid for three years from the date of notification.
Providing eligible companies with incentives is another important area. Global marquee research and design entities undertaking semiconductor design for integrated circuits (ICs), chipsets, system on chips (SoC), systems & IP cores and semiconductor-linked design; semiconductor equipment design; high-end electronic product design and development; and high-end electronics system design and manufacturing software shall be eligible for the incentives. According to the policy, eligible semiconductor manufacturing units will be offered capital subsidy, special training incentive, product testing and prototyping incentive, and land cost incentive.
