Archive · 4 Sep 2025
Polymatech Seeks Tax Breaks for Semiconductor Sector
Polymatech, a company that makes important parts for electronics, wants the government to give them a break on taxes.
They believe that tax cuts are better than the government giving them money directly.
They want to avoid import duties and have a 10-year tax holiday.
The company, led by Eswara Rao Nandam, is building a new factory in Chhattisgarh that uses advanced technology.
This factory will produce special chips called GaN chips, which are vital for new technology like 5G and 6G.
Polymatech expects significant growth and is also looking to expand its business globally.
The company believes in creating high-tech jobs and boosting the economy by making these chips.
Polymatech Electronics is seeking tax holidays to boost semiconductor growth.
The company is requesting a 10-year tax holiday and removal of import duties.
Polymatech is investing in a GaN chip manufacturing unit in Chhattisgarh.
The company emphasizes the need for robust infrastructure, like power supply.
Polymatech expects to close FY25 with nearly Rs 2,000 crore in turnover.
- Who
- Polymatech Electronics
- What
- Urging for tax holidays and infrastructure support for the semiconductor sector.
- When
- Not explicitly mentioned
- Where
- Chennai, Chhattisgarh (India)
- Why
- To foster long-term momentum and growth within the semiconductor industry.
- Company
- Polymatech Electronics
- CEO
- Eswara Rao Nandam
- Requested Support
- 10-year tax holiday and removal of import duties
- Investment
- Rs 1,143 crore in Chhattisgarh
- Product Focus
- Gallium Nitride (GaN) chips
- FY25 Revenue Projection
- Nearly Rs 2,000 crore