RIR Power Electronics Ltd has secured approval under the Odisha Semiconductor Manufacturing and Fabless Policy 2023 for a customized incentive package to establish a Silicon Carbide (SiC) semiconductor plant in Odisha. The approved investment of ₹618 Crores is aimed at advancing domestic semiconductor production while meeting growing industry demands. The facility will manufacture next-generation SiC semiconductors for various industrial applications.
The approval comes with a customized incentive package designed to boost investment in semiconductor manufacturing. The project targets production of SiC semiconductors for automotive, renewable energy, industrial automation and power electronics sectors. The initiative underscores the state government’s commitment to enhance manufacturing capabilities and strengthening India’s semiconductor supply chain through focused policy measures and investment incentives. This strategic decision is expected to drive innovation and industry growth.
Local employment opportunities and enhanced industrial partnerships are anticipated as the project develops. The facility will contribute to regional economic development and support technological advancements in semiconductor production. Government backing through this policy reinforces Odisha’s role in India’s growing semiconductor ecosystem. The project reflects a measured step toward a more self-reliant and robust manufacturing sector.
