UP Cabinet Approves Amendments to Semiconductor Policy 2024
Uttar Pradesh Cabinet Approves Amendments to Semiconductor Policy-2024
The Uttar Pradesh Cabinet has approved amendments to the Uttar Pradesh Semiconductor Policy-2024, aimed at making the policy more investor-friendly and attracting large investments in the electronics manufacturing sector. The decision was taken at a Cabinet meeting chaired by Chief Minister Yogi Adityanath.
The state government stated that the amendments were necessary due to the changing industrial landscape, investors' requirements, competition from other states, and to ensure better alignment with the Centre's India Semiconductor Mission. The Uttar Pradesh Semiconductor Policy 2024 was notified on January 19, 2024, and will remain in force for five years from the date of notification.
The revised policy is expected to help attract major investments in semiconductor and electronics manufacturing in the state, without imposing any additional financial burden on the state government. Key amendments to the policy include a requirement for investors to provide an undertaking to continue production operations for at least three years from the date of commencement of commercial production.
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| Policy Component | Original Policy | Revised Policy |
|---|---|---|
| Duration of Policy | Five years from notification | Five years from notification |
| Investor Undertaking | No requirement | Three years' production commitment |
Investor Takeaway
The revised policy is expected to attract major investments in semiconductor and electronics manufacturing in Uttar Pradesh.
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