UP Attracts Rs 45,000 Crore Investment Commitments Across Key Manufacturing Sectors

Lucknow, Aug 10 (KNN) Uttar Pradesh has received investment commitments exceeding Rs 45,000 crore from eight companies across semiconductor, electronics, renewable energy and advanced manufacturing sectors, with the projects expected to generate more than 25,000 direct jobs.

The investments are largely concentrated in Gautam Buddha Nagar and involve HCL-Foxconn, Avaada Electro, Amber Enterprises, SAEL Solar, Oriana Power, CESC Green Power, Ascent Circuits and IB Solar, reported Financial Express.

Renewable Energy Projects Lead Uttar Pradesh Investments

Renewable energy accounts for the largest share of the proposed investments. Avaada Electro is expected to invest Rs 16,139 crore, while SAEL Solar has committed Rs 8,000 crore, Oriana Power Rs 4,500 crore and CESC Green Power Rs 3,805 crore.

SAEL Solar is developing an integrated solar cell and module manufacturing facility in Jewar with a planned capacity of 5 GW each for solar cells and modules.

Semiconductor, Electronics Projects To Create Thousands Of Jobs

In the semiconductor and electronics segment, HCL-Foxconn, through India Chip Pvt Ltd, will establish a semiconductor manufacturing unit with an investment of Rs 3,706 crore, expected to create around 3,000 jobs.

Ascent Circuits will invest Rs 3,250 crore in manufacturing flexible printed circuit boards, high-density interconnect PCBs and semiconductor substrates. Amber Enterprises has committed Rs 3,232 crore, while IB Solar will invest Rs 3,000 crore. The latter two projects are expected to generate more than 6,200 jobs combined.

Policy Incentives Drive Investment Momentum

The state government has attributed the investment momentum to policy incentives under the Industrial Investment and Employment Promotion Policy (IIEP) 2022, the FDI/FCI Policy 2023 and the Uttar Pradesh Semiconductor Policy 2024.

Six of the eight projects have received assistance under the IIEP Policy, while Ascent Circuits is being supported under the FDI Policy. HCL-Foxconn's semiconductor project has received additional incentives under the state’s semiconductor policy.

Projects Expected To Strengthen MSME Supply Chains

The projects are expected to strengthen domestic supply chains for semiconductors, electronics and clean-energy equipment while creating opportunities for ancillary industries and MSMEs in areas such as components, engineering, logistics, packaging and industrial services.

Gautam Buddha Nagar Emerges As Key Industrial Hub

Gautam Buddha Nagar, particularly Noida, Greater Noida and Jewar, has emerged as a key industrial hub due to strong connectivity, electronics clusters, expressways and the upcoming Noida International Airport. 

The investments align with India’s push for domestic semiconductor, electronics and renewable-energy manufacturing, while reducing import dependence and supporting jobs and integrated supply chains in Uttar Pradesh. 

(KNN Bureau)