UP Govt. Announces New Electronics Manufacturing Policy To Gain Investors

- Advertisement -
  • Under this policy, investors will be eligible for capital subsidy of 15 per cent and additional capacity subsidy of 10 per cent on investments of more than Rs. 1000 crore
  • The state’s prime focus will also be to establish three Electronics Manufacturing Clusters focusing on mobile manufacturing consumer durables, telecom, IT hardware, medical equipment, defence, among others
  • The policy aims at inviting investments of Rs. 40,000 crore in five years and creating 4 lakh direct jobs

According to a report, the Uttar Pradesh government released a new electronics manufacturing policy to become a global electronics hub. This will in turn help in attracting international investors looking to shift their base in India in the post Covid 19 Scenario. 

An official spokesman revealed that the policy aims at inviting investments of Rs. 40,000 crore in five years and creating 4 lakh direct jobs. Uttar Pradesh Electronics Manufacturing Policy 2017 received tremendous success and it had also the achieved the given target of investment and employment generation in the third year itself. 

Mobile manufacturing hubs 

Noida, Greater Noida and Yamuna Expressway regions have been manifested as on one of the upcoming mobile manufacturing hubs in the world which has attracted foreign direct investments from many countries. The state accounts for than 60 per cent of all the mobile phones manufactured inn India. 

- Advertisement -

The coverage of the new electronics manufacturing policy 2020 has been extended to the entire state from the current electronics manufacturing zones of Noida, Greater Noida and Yamuna Expressway regions. This would further accelerate the electronics ecosystem. 

Upcoming manufacturing units 

The incentives proposed in the policy shall be applicable to all units setting up their bases anywhere in Uttar Pradesh. Furthermore, to address the regional imbalance, double the rate of land subsidy has been provided to investors for setting up manufacturing units in Bundelkhand and Purvanchal regions.

To promote MSME units in electronic manufacturing, the state government will encourage development of rental facilities on ‘Plug and Play’ model through public private partnership (PPP) mode. 

Establishing Centres of Excellence 

The state government is looking forward to create world class infrastructure in the form of Centres of Excellence to promote research, innovation and entrepreneurship in the ESDM (Electronic System Design and Manufacturing) industry. 

The state’s prime focus will also be to establish three Electronics Manufacturing Clusters focusing on mobile manufacturing consumer durables, telecom, IT hardware, medical equipment, defence, among others. 

Under this policy, investors will be eligible for capital subsidy of 15 per cent and additional capacity subsidy of 10 per cent on investments of more than Rs. 1000 crore. Along with this, they would also be eligible for interest subsidy of 5 per cent per annum on the loan obtained from scheduled banks/financial institutions, the spokesman added. 

- Advertisement -

Most Popular Articles

Infineon, Stellantis Partner To Advance Next-Gen Vehicle Power

0
With a dedicated Joint Power Lab and secured supply agreements, the partnership is set to drive transformative advancements in EV performance, cost-effectiveness, and the...

Audi Launches New EV Brand In China, Drops 4-Ring Logo

0
On Thursday, Audi introduced a new electric vehicle brand in China, branding the cars solely with the name 'AUDI' instead of its traditional four-ring...
IIT Bhubaneswar

IIT Bhubaneswar Partners MOSart Labs To Boost Engineering Skills In Chip Industry

0
The aim is to help students with essential skills in areas such as very-large-scale integration (VLSI), semiconductor technology, analog and digital design, validation, and...
Jaguar concept EV

JLR Highlights Its Biggest Reinvention With The Concept Car Jaguar Design Vision

0
The four-door GT is anticipated to be Jaguar's most powerful model to date. Its targeted range is approximately 430 miles (700 kilometers), and its...

ISE Labs Expands With New OSAT Facility In Mexico

0
Turbocharging its growth in North America’s tech hub, ISE Labs is set to build an OSAT semiconductor facility in Jalisco, Mexico, eyeing to create...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Learn From Leaders

Startups