The Uttar Pradesh cabinet has approved amendments to the Uttar Pradesh Semiconductor Policy 2024 to make it more investor-friendly and draw larger investments into the electronics manufacturing sector. The decision was taken at a cabinet meeting chaired by the chief minister of Uttar Pradesh.
The state government said the amendments were necessitated by the evolving industrial landscape, investor requirements, competition from other states and the need to align more closely with the central government’s India Semiconductor Mission. The policy was originally notified on January 19, 2024 and will remain in force for five years from that date.
The revised policy is expected to help attract significant investment in semiconductor and electronics manufacturing without imposing any additional financial burden on the state. Under the amended framework, investors will also be required to give an undertaking to continue production operations for at least three years from the date of commencement of commercial production.
