If Centre extends 50% subsidy for semiconductor industry, state will provide its share: Minister

PTI, Jun 19, 2024, 8:19 PM IST

Bengaluru: Karnataka Large and Medium Industries Minister M B Patil on Wednesday said that the state government is ready to provide its share of 20 per cent subsidy if the central government extends a 50 per cent subsidy to promote the semiconductor industry in the state.

According to a statement from the minister’s office, Patil’s statement came in response to Union Heavy Industries Minister H D Kumaraswamy’s comments on Tuesday, where he questioned whether the state government was prepared to award a 20 per cent subsidy to US-based Micron Technology, similar to the Gujarat government’s approach.

Patil affirmed that if the central government initially provides a 50 per cent subsidy, the state would extend a 20 per cent subsidy. “I have confidence that Kumaraswamy will not backtrack on this,” he added.

The minister emphasised that the central government should adopt a uniform policy for all states and expressed hope that Kumaraswamy would recognise this.

“We are questioning the central government favouring Gujarat, which is the home state of Prime Minister Narendra Modi,” Patil added.