Odisha, a state in India, is poised to become a global hotspot for IT and semiconductor industries, as it has garnered significant interest from large multinational corporations. The potential for investments in the state was revealed during a series of discussions between the Government of Odisha delegation and top Silicon Valley industry leaders representing various fields, including IT, semiconductor design and automation, venture capital, professional services, AI/ML, and 5G. Among the notable companies participating in these discussions were Cadence Design Systems, Integreon, Celano.io, eFabless Corporation, and many others.
The delegation held fruitful interactions with several software service companies, including major IT multinational Cognizant Technology Solutions (CTS). They engaged with Cognizant’s CEO, Mr. Ravi Kumar, and presented the advantages of Odisha as a potential location for Cognizant’s footprint in the state.
One significant meeting took place with PR Patel, the promoter of Global HDI PCB Manufacturing Inc., US, and a former executive at Intel. The delegation showcased Odisha’s strengths, including natural resources, generous incentives, and an investment-friendly climate. As a result of these discussions, Patel expressed his intention to set up an HDI-PCB manufacturing facility in Odisha with an estimated investment of approximately Rs. 4,360 crore (~530 million USD) over seven years. This investment is expected to generate around 3,500 jobs and contribute to the development of a semiconductor ecosystem in the state. HDI PCBs are specialized printed circuit boards known for their higher wiring density, making them ideal for complex and high-performance products that require high-frequency signal transmission. Mr. Patel’s team is planning a visit to Odisha for a site inspection.
Another noteworthy interaction was with Subroto Mukerji, CEO of Integreon, a firm that offers outsourced services to corporations and law firms, including contract management, legal operations support, and document review. Integreon expressed its intention to set up Offshore Development Centers in Odisha with a capacity for 500 employees to provide AI/ML derived business insights to clients.
Furthermore, the delegation met with Rajeev Shah, CEO and Co-founder of Celona.io, a pioneering enterprise private wireless solutions company known for developing the industry’s first 5G LAN system. The Odisha government plans to facilitate joint research projects between Celona.io and top institutions in the state in the fields of 5G and Industry 4.0. Additionally, the government will support the establishment of a Center of Excellence (CoE) in Bhubaneswar, focusing on these domains.
To develop a robust chip ecosystem in Odisha, the delegation engaged in an extensive conversation with Mr. Michael Wishart, CEO of eFabless Corporation. The company offers a platform that enables global chip experts and non-experts to collaborate on designing, sharing, prototyping, and commercializing special purpose chips. eFabless Corporation and the Government of Odisha are set to collaborate on a 6-week program aimed at accelerating semiconductor learning from high school to university. The program aims to make Odisha’s youth industry-ready and improve their employment prospects. Additionally, eFabless Corporation will provide support to accelerate IP development, with a focus on emerging applications such as AI/ML.
The delegation also participated in an event hosted by the Consulate General of India, San Francisco, where they interacted with over 50 leading executives from Silicon Valley. The participants were greatly impressed by Odisha’s rapid progress and offered their whole-hearted support to further propel its growth story.
Recognizing the importance of industry veterans’ insights, the delegation engaged in constructive discussions with Lip-Bu Tan, a renowned venture capital investor and semiconductor/deep tech visionary based in Silicon Valley. Tan, the Founder and Chairman of Walden International (WI) and a former CEO of Cadence Design Systems, provided invaluable insights into the latest trends in AI/ML, life sciences, semiconductor industry investments, technology, and workforce training. These insights are expected to shape strategic decisions and initiatives aimed at bolstering the semiconductor and deep tech landscape in Odisha.
Furthermore, the CEO of iOPEX, Shiva Ramani, shared plans to set up their Offshore Development Center in Bhubaneswar with 500 employees. The delegation assured him of all possible support in facilitating their initiatives in the state.
The visit of the Government of Odisha delegation to the U.S. marks a potential game-changer for the state’s IT and ESDM (Electronics System Design and Manufacturing) sectors, as discussions with various global MNCs have been highly successful. As a result, Odisha is now positioned to attract the “Who’s Who” of global IT and semiconductor companies, promising a wave of significant employment opportunities in the state in the near future.
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