GUWAHATI: In the 100th Cabinet Meeting held at the Brahmaputra guest house on Friday, Assam Chief Minister Himanta Biswa Sarma announced the Assam government has granted its approval to the Assam Electronics (Semiconductor, etc.) Policy 2023.
This policy is primed to establish Assam as a prominent hub for semiconductor innovation and electronic manufacturing, setting the stage for a cascade of economic and developmental advantages.
The policy's scope encompasses an array of benefits that have the potential to revolutionise the region's economic landscape such as:
- Attracting Semiconductor Fabrication and Design Investment
- Job Creation
- Ecosystem Development
-Market Resilience
- Export Growth
- Revenue Generation for State
The far-reaching benefits of this policy will be extended to all newly established units falling under the ambit of 'Semiconductor Manufacturing.'
Additionally, eligible industrial units will be given the opportunity to progressively commence operations within a stipulated timeframe – 3 years for MSMEs and 5 years for large Industries – from the date of their initial capital investment.
The establishment of these industries is expected to create a wave of direct and indirect employment opportunities, effectively propelling socio-economic advancement in Assam and redefining its trajectory on the path of progress.