UP Govt Revises Semiconductor Policy To Attract Investors

Lucknow, Jun 5 (KNN) The Uttar Pradesh Cabinet approved amendments to the Uttar Pradesh Semiconductor Policy 2024, aiming to make it more investor-friendly and strengthen the state's position as a destination for electronics and semiconductor manufacturing investment.

The decision was taken at a Cabinet meeting chaired by Chief Minister Yogi Adityanath, ET reported.

The state government said the revisions were necessitated by the evolving industrial landscape, shifting investor requirements, competition from other states, and the need for better alignment with the Central government's India Semiconductor Mission. The original policy was notified on January 19, 2024, and remains in force for five years from that date.

The revised policy is expected to attract significant investment in semiconductor and electronics manufacturing without imposing any additional financial burden on the state exchequer. 

Under the amended framework, investors will be required to provide an undertaking to continue production operations for at least three years from the commencement of commercial production.

(KNN Bureau)