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Karnataka offers 20% subsidy for semiconductor investment

Karnataka’s Large and Medium Industries Minister M B Patil announced on Wednesday that the state government is prepared to offer a 20% subsidy to promote the semiconductor industry, contingent on the central government providing a 50% subsidy. This announcement was made in response to Union Heavy Industries Minister H D Kumaraswamy’s recent remarks questioning Karnataka’s subsidy commitment in comparison to Gujarat’s strategy.

Patil assured that the state would extend the subsidy if the central government leads the way with a significant 50% share. ”I have confidence that Kumaraswamy will not backtrack on this,” Patil stated. The minister also urged the central government to implement a uniform subsidy policy across all states and criticized the perceived favoritism towards Gujarat, Prime Minister Narendra Modi’s home state.

Patil’s comments highlight the ongoing dialogue and negotiation between state and central governments as they work towards bolstering India’s semiconductor industry, a critical sector for technological advancement and economic growth. PTI

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