Big Investments From Silicon Valley On Cards: High Level Team Leaves For San Francisco

Bhubaneswar: With an eye on attracting big ticket foreign investments into Odisha in the Information Technology and Semiconductor manufacturing sectors, a high level team led by IT Minister Tusharkanti Behera is leaving for America today. The high level state delegation that will be in San Francisco includes Development Commissioner Anu Garg, 5T Secretary V K Pandian, Principal Secretary-IT, Manoj Kumar Mishra and Sports Secretary Vineel Krishna. The delegation is scheduled to meet a number of industrialists and investors and seek investments for Odisha. After Dubai and Japan, now Odisha is trying hard to attract investments from the Silicon Valley in the IT and Semiconductor sectors.

As per reports, the visiting delegation will directly interact with investors, officials and representatives of some of the biggest IT, Semiconductor and chip manufacturing companies in San Francisco and present Odisha as the new destination of investment. The focus of the delegation will be on the Semiconductor sector.

The State Government has big plans for attracting Semiconductor manufacturers into Odisha which can further propel the economic growth of the state and increase employment opportunities.

The State Cabinet has also given its nod to the Semiconductor Manufacturing and Fabless Policy during the meeting held on Friday under the Chairmanship of Chief Minister Naveen Patnaik. The policy will help the state to develop a robust Semiconductor ecosystem and attract Semiconductor value chain investments into the state. The Odisha Semiconductor Manufacturing and Fabless Policy will also develop an end-to-end semiconductor ecosystem in the state.

The State Government has made a provision of Rs 30 crore in this year’s budget for creating a facility for semiconductor designing and manufacturing. It is also implementing the O-Chip initiative as an one-stop shop for fabless product companies and startups where they can be provided advanced designing and testing infrastructure and mentoring support. State of the art infrastructure with advanced design and testing tools will be provided to enable startups, companies and academic institutions to collaborate.