Uttar Pradesh has attracted significant attention in the semiconductor sector with investment proposals totaling Rs 40,038 crore under its new semiconductor policy. This initiative, aimed at stimulating semiconductor manufacturing and drawing global investments, is championed by Invest UP, the state’s investment promotion agency.
Several prominent companies have committed substantial investments:
Tarq Semiconductor, a part of the Hiranandani Group, plans to invest Rs 28,440 crore, anticipating the creation of 11,000 jobs. Kaynes Semicon, a subsidiary of Kaynes Technologies, proposes a Rs 4,248 crore investment aimed at generating employment for 12,000 individuals. Aditech Semiconductor has proposed an investment of Rs 3,751 crore, expected to result in 5,500 jobs, while Vamasundari Investment Delhi plans to invest Rs 3,599 crore, potentially creating 3,780 jobs.
The semiconductor policy offers attractive incentives including a 50% additional capital subsidy, interest subsidies, and other benefits to enhance competitiveness. It encompasses a wide range of semiconductor activities such as compound semiconductors, silicon photonics devices, integrated circuits, as well as manufacturing processes like ATMP and MEMS.
Chief Minister Yogi Adityanath highlighted the policy’s role in fostering technological innovation and industrial growth, emphasizing efforts to develop IT hubs and semiconductor manufacturing ecosystems. Minister for Information Technology and Electronics, Sunil Kumar Sharma, underscored the state’s commitment to facilitating investment processes. Chief Secretary Manoj Kumar Singh emphasized the policy’s impact on job creation and economic growth in Uttar Pradesh.
The semiconductor policy underscores Uttar Pradesh’s commitment to creating a conducive environment for industrial development and technological advancement, aligning with national objectives and enhancing global competitiveness in the semiconductor market.