The upcoming policy is likely to strengthen the goal of the state in top-notch electronics manufacturing apart from focusing on subsidies and incentives to firms who invest in Tamil Nadu
After Odisha and Gujarat, the government of Tamil Nadu has proclaimed to unleash Semiconductor and Advanced Electronics Policy at the third edition of Global Investors Meet between January 7 and January 8. There were a couple of key investments in numerous sectors in the state over the past few years and now, the government wants to grab the opportunity to boost the electronics manufacturing value chain.
M K Stalin, the Chief Minister of Tamil Nadu will unleash the policy, which will focus exclusively on increasing investments from various companies who are associated with the sophisticated design and cutting-edge manufacturing of electronics. In fact, the state has also assured to offer incentives and subsidies based on a certain percentage.
The Global Investors Meet will be spearheaded by top economists Raghuram Rajan, who was the former governor of RBI, former Chief Economic Advisor Arvind Subramanian, celebrated author Chris Miller, business tycoon Anand Mahindra, First Solar CEO Mark Widmar, and Coursera CEO Jeff Magioncalda among others. Industry executives believe that this policy is the urgent need of the hour as the state is aiming to boost the entire value chain in the sector starting from important jobs in component, semiconductor design, and electronics manufacturing services (EMS).
In an exclusive interaction with a renowned media, a senior government official who wishes to be unnamed told that in terms of magnetizing investments in semiconductor, Tamil Nadu has advantage, as it has presence of global firms such as KLA and Qualcomm. The upcoming policy is likely to strengthen the goal of the state in top-notch electronics manufacturing apart from focusing on subsidies and incentives to firms who invest in Tamil Nadu.
The government official also added that although EMS offers more jobs, the pay-scale is very low, while electronics design offers high wage jobs to highly skilled people. In the past couple of years, Tamil Nadu has also invited Apple’s contract manufacturers Pegatron and Foxconn, and India’s Tata Electronics, and Taiwan’s Delta Electronics, thereby offering global companies a preferred destination for investments.
