U.P. readies for major investments for semiconductor industry
The state government, which came up with Uttar Pradesh Semiconductor Policy 2024 early this year, has already announced incentives for the semiconductor manufacturing industry to make the state a preferred destination for investment in this area in coming months.
Uttar Pradesh government hopes to get a major chunk of investments in the field of semiconductor manufacturing as Prime Minister Narendra Modi made a strong pitch for the country’s chip manufacturing capabilities while inaugurating Semicon India 2024 at India Expo Mart in Greater Noida on Wednesday.
The state government, which came up with Uttar Pradesh Semiconductor Policy 2024 early this year, has already announced incentives for the semiconductor manufacturing industry to make the state a preferred destination for investment in this area in coming months.
“Uttar Pradesh government has come up with Uttar Pradesh Semiconductor Policy 2024 to prepare atmosphere conducive to semiconductor industry. This policy provides for assistance on capital investment, interest subsidy, rebate on land value, stamps duty and electricity charges. Uttar Pradesh is already being established as a hub in the field of semiconductor design engineering,” said chief minister Yogi Adityanath speaking at the inaugural of the three-day event.
Yogi, who reached Greater Noida on Tuesday to review preparations for the event, had one-to-one meetings with the top notch of the semiconductor industry present there on Wednesday. “About 12 companies had one-to-one discussion with chief minister Yogi Adityanath on the sidelines of Semicon India 2024 on Wednesday. We are making efforts to get investment to begin semiconductor manufacturing in Uttar Pradesh. We are hopeful of getting some of these companies. The state government has already got some proposals and one of them will soon be taken to the state cabinet for approval. This involves investment of ₹30,000 crore,” said Manoj Kumar Singh, chief secretary, Uttar Pradesh.
Yogi said Uttar Pradesh was also emerging as a data hub and the state government has decided to treat the information technology sector as an industry and industrial development authorities will give the IT units land at cheap rates. The state government’s IT department has been making efforts to woo the semiconductor industry to invest in the state.
{{/usCountry}}Yogi said Uttar Pradesh was also emerging as a data hub and the state government has decided to treat the information technology sector as an industry and industrial development authorities will give the IT units land at cheap rates. The state government’s IT department has been making efforts to woo the semiconductor industry to invest in the state.
{{/usCountry}}Principal secretary (IT and Electronics) Anil Sagar said the state government was hopeful of getting investment in the semiconductor manufacturing sector. “The investors are interested in setting up semiconductor manufacturing units. The investors are also interested in setting up offices for designing Semiconductors. While necessary approvals for setting up semiconductor designing offices may be done at the state government level the union government’s approval will also be needed to set up semiconductor manufacturing units,” said Sagar.
{{/usCountry}}Principal secretary (IT and Electronics) Anil Sagar said the state government was hopeful of getting investment in the semiconductor manufacturing sector. “The investors are interested in setting up semiconductor manufacturing units. The investors are also interested in setting up offices for designing Semiconductors. While necessary approvals for setting up semiconductor designing offices may be done at the state government level the union government’s approval will also be needed to set up semiconductor manufacturing units,” said Sagar.
{{/usCountry}}It may be mentioned that the state government has already received some proposals for investment in semiconductor manufacturing and these proposals are being processed now.
