MP Cabinet endorses Analog Semiconductor Fabrication Investment Policy
Madhya Pradesh takes lead
Madhya Pradesh has become the first state in the country to frame the Analog Semiconductor Fabrication Investment policy. The policy will help in tapping immense potential in Semiconductor fabrication sector in the state.
Electronic system designing and manufacturing (ESDM) sector will also develop speedily with establishment of industries in Semiconductor fabrication sector. Other units will come up near the fabrication units including fabless designing companies, electronics production units, electronics manufacturing service, assembly, testing and other units. State will have a new identity in ultra high modern technology. The new policy will help in saving foreign exchange. At present microchips are being imported from other countries.
Under the new policy, free land and 75 percent of building construction cost will be provided to units investing minimum Rs. 3000 crore. The unit will be supplied round-the-clock uninterrupted power through 2 grids, sewage infrastructure, quality road from the unit to airport, free trade zone at airport, and chemical firefighting facility near airport.
The cabinet has also decided to exempt from stamp duty the companies given such exemption by a high-level committee headed by the Chief Secretary. The companies that have already paid the stamp duty will get a refund.