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The Uttar Pradesh Cabinet on Wednesday approved amendments to the Uttar Pradesh Semiconductor Policy-2024 to make it more investor-friendly and attract large investments in the electronics manufacturing sector.
The decision was taken at a Cabinet meeting chaired by Chief Minister Yogi Adityanath, according to an official statement.
The state government said the amendments were required in view of the changing industrial landscape, investors’ requirements, competition from other states, and to ensure better alignment with the Centre’s India Semiconductor Mission.
The Uttar Pradesh Semiconductor Policy 2024 was notified on January 19, 2024, and will remain in force for five years from the date of notification.
The revised policy is expected to help attract major investments in semiconductor and electronics manufacturing in the state, while not imposing any additional financial burden on the state government, the statement said.
Under the amended policy, investors will also have to give an undertaking to continue production operations for at least three years from the date of commencement of commercial production.
The decision was taken at a Cabinet meeting chaired by Chief Minister Yogi Adityanath, according to an official statement.
The state government said the amendments were required in view of the changing industrial landscape, investors’ requirements, competition from other states, and to ensure better alignment with the Centre’s India Semiconductor Mission.
The Uttar Pradesh Semiconductor Policy 2024 was notified on January 19, 2024, and will remain in force for five years from the date of notification.
The revised policy is expected to help attract major investments in semiconductor and electronics manufacturing in the state, while not imposing any additional financial burden on the state government, the statement said.
Under the amended policy, investors will also have to give an undertaking to continue production operations for at least three years from the date of commencement of commercial production.
