The delegation led by Minister for Electronics and IT Tusharkanti Behera was in San Francisco for a week and interacted with investors and the who’s who of IT, semiconductor and chip manufacturing companies at Silicon Valley.
After Dubai and Japan, this is the third overseas investors’ meet of team Odisha, which is trying to hard sell the state’s potential to attract investments from the Silicon Valley. As India aspires to become the global semiconductor hub in next few years, Odisha’s push for a robust semiconductor ecosystem is aimed at developing the state as a major destination for investors.
The high level delegation visiting the US includes development commissioner Anu Garg, 5T secretary VK Pandian, principal secretary of IT department Manoj Mishra, sports secretary R Vineel Kishna and IT special secretary Manas Panda.
The delegation met Mr. Jure Sola, Co-founder, Chairman, and CEO; Dr. Sundar M Kamath, SVP and CTO; Mr. Michael Sparacino, SVP; and Mr. Bill Pappani, VP. The delegation gave a detailed presentation on Odisha’s conducive, industrial ecosystem to the Sanmina team and briefed on various incentives that Odisha offers under different policies.
Consul General of India, San Francisco Dr. TV Nagendra Prasad hosted a luncheon with the delegation on June 27, 2023 at Amber India, Los Altos. This event was attended by representatives from Tie Silicon Valley, CBSCI, FOG Odisha and other local organizations. The delegation briefed the attendees on Odisha’s policies and investment initiatives.
The state government delegation assured the US investors of all possible support in facilitating the investment journey and highlighted “the customized package of incentives which are available based on investment size”. The CMO said the initiatives will soon transform Odisha into a thriving hub for innovation that attracts investments, generates high-value job opportunities, and nurtures the brightest minds.
Minister for Electronics and IT Tusharkanti Behera discussed the impressive transformation Odisha has undergone under the leadership of Chief Minister Naveen Patnaik, and said US-based Silicon Power Group is planning to invest $121.73 million to establish a facility in India’s Odisha state for manufacturing 150 millimeter silicon carbide, a crucial component used in chips for electric vehicles and various industrial power and energy applications. The investment will be made through the group’s Indian unit, RiR Power Electronics, and the company aims to commence operations within the next 18 to 24 months.
Odisha is one of the fastest growing economies in India and has consistently grown above the national average in the last decade and a half. Over the last 20 years, the government has focused on leveraging the natural advantages in the state through progressive policy, efficient administration and technological interventions,” development commissioner Anu Garg said.
During a presentation, Odisha Principal Secretary, ManojMishra said Odisha’s position in terms of political stability, ease of doing business (EoDB) ranking, competitive cost of doing business, the impact of investment facilitation, best-in-class incentives and highly skilled human resources, gives the state a distinct competitive advantage over others.
“Odisha under the leadership of Chief Minister Naveen Patnaik is becoming the industrial hub of the East and a gateway to the East and South East Asian markets,” 5T secretary VK Pandian said. . We are fast emerging as a major industrial destination in India because of the abundance of natural resources and strategic location. Odisha’s skilled and productive human resources, progressive policies, and strong result-oriented governance provide a unique ecosystem to their investors to set up their industrial units in the State.
The delegation visited the University of California, Berkeley and met Gauthier Vasseur, Executive Director of Fisher Center for Business Analytics; Dr Don Moore, acting Dean, Hass School of Business, and other eminent faculty members of the university. An MoU was concluded between the Government of Odisha and UC Berkeley highlighting cooperation in areas of research, impact assessment of schemes, entrepreneurship, and exchange of academic publications.
Vidya Sethuraman
India Post News Service
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