In a bid to support Prime Minister Narendra Modi’s vision of achieving ZERO import of electronics goods, Uttar Pradesh government has announced it’s Electronics Manufacturing Policy 2020. The policy aims at inviting investment of 40 thousand Crore rupees in next five years and generate four lakh direct employment.
Immediately after assuming office in 2017, Chief Minister Yogi Adityanath had announced Electronics Manufacturing Policy 2017 for Noida, Greater Noida and Yamuna Expressway regions. It had achieved the given target of investment and employment generation in the 3rd year itself and all three regions are now one of the emerging mobile manufacturing hubs in the world. More than 60 percent of all mobile phones manufactured in India are from UP.
The new electronics manufacturing policy 2020 has been extended to the entire state now. The incentives proposed in the policy shall be applicable to all units setting up their bases anywhere in UP. To address the regional imbalance, double the rate of land subsidy has been provided to investors for setting up manufacturing units in Bundelkhand and Purvanchal regions.
With this new Electronics Manufacturing Policy state government wants to become a new Global Electronics Hub and also eying for the international investors looking to shift their base to India post Covid Scenario.
Source: News On Air