HDK: Will fulfil semiconductor related initiatives

Bengaluru, NT Bureau: Lauding PM Narendra Modi's semiconductor-related initiatives, Union Heavy Industries and Steel Minister H D Kumaraswamy on Saturday said he will work towards fulfilling them through his ministry.

His remark comes a day after he reportedly raised questions about the US-based semiconductor manufacturer potentially receiving Rs 3.2 crore subsidy for every job it creates in Gujarat.

"Semiconductor is a strategic industry. It is a basic requirement for electronics and automobile manufacturing. Both these sectors generate lots of employment. I greatly appreciate the semiconductor-related initiatives taken by @ PMOIndia and will work towards fulfilling them through my ministry," Kumaraswamy posted on 'X'.

Later, addressing reporters here, the JD(S) leader stressed on the need for creating more jobs along with attracting investments to the country.

"Why has our PM given me this big portfolio? Why he has confidence in me? It is a big responsibility that the PM has given me. My work is to bring investors in a big way. Not only bringing investors, parallelly, we have to create more jobs. By creating more jobs, I have to come to the expectations of the PM," he added.

Terming as "unjustifiable" the central government subsidy given to US-headquartered semiconductor maker Micron for every job it creates in Gujarat, Karnataka Minister for Large and Medium Industries MB Patil on Saturday said Kumaraswamy's question on this matter is appropriate.

“If this is applicable to Gujarat, then the same formula should be followed for other states to create opportunities,” said Patil He expressed his opinion in a post on ‘X', seconding Kumaraswamy's remarks.

“Micron, which plans to set up its unit in Gujarat with an investment of $2.70 billion, is expected to create 5,000 jobs. In return, the company would receive $2.0 billion in incentives. The logic behind this is not justifiable,” Patil quoted Kumaraswamy as saying.

Patil said if a company is given this much incentive, it could be considered a PSU. “It could be a welcome step if higher incentives are extended to create a conducive industrial ecosystem."