Why Is Odisha Chief Minister Betting Big On Semiconductor Industry

The Odisha government headed by Naveen Patnaik is now focusing on investments beyond steel, aluminium and mining sector. Being an election year, Patnaik is going all out to give a big push to the semiconductor chip business that represents the heartbeat of modern digital economy. Towards this Patnaik’s government has formulated a new policy to ensure that at least one semiconductor manufacturing unit and 100 fabless design companies will land in the state. This initiative is expected to create around 5,000 direct job opportunities and 20,000 indirect employment over a period of seven years. Government sources confirm that Odisha chief minister has already got on board the London-based SRAM & MRA Group to set up the semiconductor unit in Ganjam district with an investment outlay of Rs30,000 crore in Phase 1. The US-based Silicon Power Corporation has also agreed to invest Rs 1,000 crore over next 18-24 months. Meanwhile Odisha’s IT minister with his entourage are camping in the US to woo more investors into the state. Political observers say “with state elections round the corner Patnaik is moving the political needle in the right direction bringing in investment, employment and revenue”.  Looks like Patnaik is already in election mode.