UP govt enacts a dedicated Semiconductor Policy

In a response to the queries raised by the Opposition during the state assembly’s budget discussion on Saturday, Chief Minister Yogi Adityanath emphasized the strategic significance of semiconductors. “In a pioneering move, Uttar Pradesh has enacted a dedicated Semiconductor Policy, eliciting keen interest and multiple proposals, with discussions underway to chart out actionable programs”, he stated.

The state has also introduced a progressive FDI policy highlighted the minister. On October 31, the Uttar Pradesh Cabinet had approved a new foreign direct investment policy aimed at offering incentives to international investors. The 2023 FDI policy included exemptions in areas such as land acquisition, stamp duty, and capital investment.

He mentioned that in while a mere Rs 200 crores trickled in as FDI over 22 years from 1996 to 2017, a staggering Rs 2,300 crores flowed into the state between 2017 and 2023 because of the government’s policies to to attract investments from FDIs and Fortune 500 companies.

CT Bureau