The government of Uttar Pradesh has sanctioned financial incentives exceeding Rs 85 billion for two semiconductor manufacturing initiatives under its Semiconductor Policy-2024, aimed at fostering growth and creating job opportunities around the Noida International Airport, Jewar.
The projects, proposed by Tarq Semiconductors Private Limited and Vama Sundari Investments (Delhi) Private Limited, are projected to draw a total investment of Rs 321.46 billion.
Tarq Semiconductors, affiliated with the Hiranandani Group, intends to invest Rs 284.4 billion in Sector 28 to manufacture compound semiconductors, silicon photonics devices, integrated circuits, and optoelectronic components. Concurrently, Vama Sundari Investments plans to allocate Rs 37.06 billion for a facility in Sector 10 that will focus on display driver integrated circuits (DDIC) and semiconductor assembly.
Further, Tarq Semiconductors aims to create 1,000 direct jobs and an additional 10,000 indirect jobs, while Vama Sundari Investments targets the generation of 3,780 direct and indirect jobs. The strategic location near the Noida International Airport is anticipated to enhance Uttar Pradesh’s integration into India’s expanding semiconductor industry. Both projects are currently awaiting final approval from the central government.
