Approval granted for amendments to the Uttar Pradesh Semiconductor Policy-2024

Lucknow ( Raghwendra Pratap Singh) : The Yogi Cabinet has approved the proposal to amend the Uttar Pradesh Semiconductor Policy-2024. The state government believes that the amendments were necessary to align the policy with the evolving industrial landscape, investors' requirements, competition from other states, and the Government of India's India Semiconductor Mission.

It may be noted that the Uttar Pradesh Semiconductor Policy-2024 was notified on January 19, 2024. The policy will remain effective for a period of five years from the date of notification. Through these amendments, the policy has been made more investor-friendly, enabling the state to attract large-scale investments in the semiconductor and electronics manufacturing sectors.

The amendments will not impose any additional financial burden on the state government. Under the policy, investors will also be required to commit to maintaining production operations for a minimum period of three years from the date of commencement of commercial production of their projects.