At IESA Vision Summit 2024, IESA launches report on semiconductor and ESDM policies in India

Date: 25/01/2024
On the first day of India Electronics and Semiconductor Association (IESA) Vision Summit 2024, S.Krishnan, Secretary, MEITY launched a new report "The 2024 Edition of Compendium of Semiconductor & ESDM Policies in India", 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 got launched by Shri. S.Krishnan Secretary MEITY at IESA Vision Summit 2024. The report was made in partnership with Feedback Advisory.

IESA VS 2024

The report is aimed to provide as a ready reckoner for those who need to make decisions- the government, the investors, the business leaders and the entrepreneurs and also the 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.

The Government of India is a key enabler 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, and Uttar Pradesh have already come up with a specified Semiconductor Policy. IESA’s latest report compares and contrasts the various policies and incentives offered by different states, and provides insights and recommendations for the stakeholders.

Mr Veerappan V, Vice Chaiperson, IESA, commented, “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, we are excited to present the 2024 Edition of Compendium of Semiconductor & ESDM Policies, a comprehensive and updated report that provides a detailed overview of the various policies and incentives offered by the Government of India and the states to encourage and enhance this sector. We sincerely hope that this report will help in spreading awareness, enabling decision making, and attracting more investments and innovations in this sector.”

Mr 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, defense, and more. India has a huge opportunity to leverage its strengths in design, talent, and market to become a global leader in this sector. At IESA, we are committed to facilitating collaboration and partnership among the government, the industry, the academia, and the research institutions to create a vibrant and thriving ecosystem for the Semiconductor and ESDM sector in India. This report is another step in this direction.”

The 2024 Edition of Compendium of Semiconductor & ESDM Policies is a must-read for anyone who wants to understand the current scenario, the opportunities, and the challenges of the Semiconductor and ESDM in India. The report provides insights and recommendations for the industry and the policy makers to take the necessary steps to make India a global destination for the industry. IESA, as the voice of the industry, will continue to work with the government and the stakeholders to create a conducive ecosystem for this sector in India.