Lucknow, Jan 18 (KNN) Uttar Pradesh is preparing to seize its stake in the thriving semiconductor industry, Chief Minister Yogi Adityanath announced on Wednesday.

While assessing the proposed UP Semiconductor Policy 2024, the chief minister highlighted the crucial role of semiconductors in technological progress.

Yogi stressed on the necessity of cultivating a robust ecosystem within the state, fostering innovation, generating employment, and enhancing self-reliance.

To attract chip design companies and start-ups, a supportive 'fabless' ecosystem will be nurtured, accompanied by enticing incentives for global semiconductor investors, complementing the government of India's USD 10 billion incentive package.

Recognising the significance of skilled manpower, the CM proposed integrating semiconductor courses into technical institutes and IITs, coupled with two-year internship programs in semiconductor industries.

“UP’s policy will go beyond national incentives, offering additional capital infusions, land purchase and lease exemptions and relief on electricity duty, SGST, power grid charges and more,” Yogi said.

As the fourth state in India adopting such a dedicated policy, UP positions itself as a prime destination for semiconductor players. The state prioritises skill development, water supply, power banking, and research and development assistance to establish a comprehensive support system.

CM Yogi Adityanath's vision extends beyond attraction; officials assert his goal is to position UP as a prominent force in the semiconductor industry. He urged that UP's policy should incorporate provisions for disbursing financial and non-financial incentives to captivate global semiconductor investors.

(KNN Bureau)