Gujarat Becomes the First State in India to Implement a Dedicated Semiconductor Policy. National | Dated: 17 Nov 2024 Bhupendra Patel, the Chief Minister (CM) of Gujarat, has launched the 'Gujarat Semiconductor Policy 2022-2027', making the state the first in India to implement a dedicated semiconductor policy. 🎯 Key Highlights: - Gujarat has established the 'Gujarat State Electronics Mission' to ensure effective implementation of this policy. The mission is a dedicated institution focused on advancing Gujarat's leadership in semiconductor self-reliance. - This initiative complements the central government's 'India Semiconductor Mission', launched in 2021 with a budget of Rs 76,000 crore to boost domestic semiconductor production. - India's semiconductor market, valued at USD 15 billion in 2020, is projected to exceed USD 63 billion by 2026. 💡 Other Important Facts: (i) Investments by semiconductor units in Gujarat are expected to create a significant number of high-skilled job opportunities. (ii) These state-of-the-art facilities will play a vital role in reducing India's dependence on imported semiconductor chips while driving job creation in critical downstream sectors like automotive, electronics, medical equipment, and telecommunications. (iii) Along with the capital expenditure support provided by the Government of India for semiconductor and display fabrication units, the Gujarat government has enhanced this assistance with an additional 40% financial support. 📚 Test Your Knowledge: Recently, which state became the first in India to implement a dedicated semiconductor policy? Correct Answer: Gujarat 🚀 Quick Recap: About Gujarat CM: Bhupendra Patel Governor: Acharya Devvrat