The India Electronics and Semiconductor Association (IESA), a premier industry association and thought leader on the Nation in Semiconductor and ESDM space, has launched its new report, the 2024 Edition of Compendium of Semiconductor & ESDM Policies in India.
The report is a comprehensive and updated guide to the policies and incentives offered by the government of India and 14 states for the Semiconductor and ESDM sector. The report was launched by S Krishnan Secretary MEITY at IESA Vision Summit 2024.
The government of India plays a key role in providing financial and non-financial support in addition to ease of doing business to boost interest and investment by the private sector in large-scale design and manufacturing.
Around 8 states in India, including Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Odisha, Tamil Nadu, Telangana, and Uttar Pradesh, have come up with a clear mention of catering to Semiconductor Industry. Out of these, 4 states (Gujarat, Odisha, Tamil Nadu, Uttar Pradesh) have already come up with a specified Semiconductor Policy.
The report compares and contrasts the various policies and incentives offered by different states and provides insights and recommendations for the stakeholders.
It was prepared in partnership with Feedback Advisory, and aims to serve as a ready reckoner for those who need to make decisions – the government, investors, business leaders and entrepreneurs and also future policy makers of the country. It provides a factual summary of the Semiconductors and ESDM related Policies of the Government of India and State Policies, covering aspects such as Manufacturing & Fabless Policy, Eligibility of Companies, Fiscal Subsidies, Non-Fiscal Subsidies, and Policy for Fabless Firms.
Veerappan V, Vice-Chairperson, IESA said, “The semiconductor and ESDM sector is a key enabler of the digital transformation that is reshaping the world. India, with its large and growing market, talent base, and policy framework, has the potential to emerge as a global hub for this sector. With the Indian semiconductor market poised to reach a valuation of $80.3 Bn by 2028.”
Ashok Chandak, President, IESA stated, “The Semiconductor and ESDM sector is vital for India’s economic and social progress, as it enables innovation and value creation across various domains such as healthcare, education, agriculture, defence, and more. India has a huge opportunity to leverage its strengths in design, talent, and market to become a global leader in this sector.”