Through major policy changes, cooperation, and global investment, UP will soon become a hub of semiconductor and electronics manufacturing. Strategic developments include the Uttar Pradesh Semiconductor Policy 2024 and the state's growing importance in mobile and electronics manufacturing. This paper analyses UP's activities, achievements, and the effects of the developing semiconductor environment.
Policy Framework and Initiatives
Capital and Interest Subsidies:
◆ The Uttar Pradesh Semiconductor Policy 2024 offers a 50% capital subsidy aligned with Government of India (GOI) support. Additionally, there's a 5% interest subsidy for units with investments up to ₹200 Cr., capped at₹7 Cr. over seven years, aimed at easing the financial burden on startups and tech ventures.
Land and Power Incentives:
◆ To facilitate infrastructure development, the state offers 75% subsidy on the first 200 acres of land and 30% subsidy on additional land purchases for main or ancillary units. Additionally, dual power grids are set up for FAB units, with the cost of one grid covered by the government to enhance reliable power supply.
Tax Exemptions and Financial Reliefs:
◆ The policy offers 100% exemption from Stamp Duty, Registration Fees, and Electricity Duty for 10 years to semiconductor units. There's also a 50% exemption from transmission and wheeling charges on interstate power purchases, which supports sustainable energy practices and reduces operational costs.
Research and Development Support:
This story is from the November 2024 edition of Bisinfotech.
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This story is from the November 2024 edition of Bisinfotech.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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