Assam Secures ₹1,000 Crore ADB Loan for Skill University to Support Ratan Tata Electronic City
Why in News?
- The Asian Development Bank (ADB) has extended a ₹1,000 crore loan to Assam for establishing the Assam Skill University. This institution aims to provide specialized training aligned with the state’s burgeoning electronics manufacturing sector.
Important Key Points:
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Ratan Tata Electronic City Development: Assam is negotiating a significant loan with ADB to develop the Ratan Tata Electronic Manufacturing City in Jagiroad. Infrastructure work is already underway to support this initiative.
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Policy Incentives for Industries: Industries establishing electronic component manufacturing units in Assam will benefit from three major policy frameworks: Assam’s Electronics Component Manufacturing Policy, the Central government’s policy, and the Unnati scheme, which specifically caters to the Northeast.
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Progress on Semiconductor Plant: Construction of the Jagiroad Semiconductor Plant is progressing well, with production expected to begin by the end of 2025 or early 2026. The facility aims to produce the first chips by year-end or early next year.
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Talent Pool Enhancement: The state is witnessing a trend of young Assamese professionals returning from across India and abroad, attracted by the growing opportunities in the electronics sector. The government aims to nurture new talent and bring back experienced professionals to contribute to Assam’s development.
