Gujarat’s semiconductor landscape is set to grow even larger and better following a $20 billion investment commitment by Vedanta-Foxconn, a joint venture between the Vedanta Group and Taiwanese chipmaker Foxconn. For a period of ten years, the government will provide subsidies for land acquisition, capital investment, stamp duty refunds, fixed water tariffs, and electricity tariff subsidies.
Micron Technology, the US-based data storage device manufacturer, is in advance-level discussions with the state government to invest Rs 75,000 crore here, according to top state government sources. “However, in all likelihood, the project will come to Gujarat,” the source said.
The centre has also notified four schemes to enable the development of sustainable semiconductors through the India Semiconductor Mission (ISM), which provides Rs 76,000 crore to support projects.
Last year, Vedanta-Foxconn signed a memorandum of understanding with the state to set up the country’s first semiconductor fab unit, a display fab unit, and a semiconductor assembly and testing unit at Dholera- which has been declared a semicon city.
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