Polymatech seeks tax holiday to power semiconductor growth

Chennai-based Polymatech Electronics has urged the government to grant income and corporate tax holidays for the semiconductor sector, arguing that fiscal relief, rather than subsidies, will give the industry long-term momentum.

“We are not seeking taxpayer money. Instead, we request a 10-year tax holiday and removal of import duties on machinery and raw materials,” Eswara Rao Nandam, CEO of Polymatech Electronics, said. He noted that several countries had provided similar support to semiconductor makers.