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New semiconductor policy incentivises hiring TN talent, HR News, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

<p>The policy aims to contribute 40% of India’s electronics exports by 2030 (from current levels of around 30%) and also create a skilled talent pool of 200,000 persons in this sector by 2030</p>
The policy aims to contribute 40% of India’s electronics exports by 2030 (from current levels of around 30%) and also create a skilled talent pool of 200,000 persons in this sector by 2030

Chennai: The new semiconductor policy released by Tamil Nadu on Sunday looks to capitalise on Tamil Nadu’s talent pool in chip design R&D and includes a “payroll subsidy” for chip design and research units.

The Tamil Nadu Semiconductor and Advanced Electronics Policy 2024 notes that selected chip design entities will be eligible for payroll reimbursement of 30% (year 1), 25% ( year 2), and 20% (year 3) if they employ Tamil Nadu residents. The payroll subsidy shall be capped at 20,000 per employee a month.

The policy aims to contribute 40% of India’s electronics exports by 2030 (from current levels of around 30%) and also create a skilled talent pool of 200,000 persons in this sector by 2030.

As per the policy, TN government will also offer up to 50% of additional financial subsidy to the semiconductor manufacturing projects selected by the Centre under its $10 billion chip subsidy plan. These projects will also get a special training incentive, product testing and prototyping incentive, stamp duty, and electricity tax incentive among other sops.

Interestingly, the policy also notes that only advanced electronics projects committing to “unit level value addition of over 20%” shall be eligible for incentives.

“The policy…


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