Uttar Pradesh receives proposals worth Rs 40,000 crore under new semiconductor policy
Uttar Pradesh has received proposals for projects totalling around Rs 40,038 crore under its new policy to incentivise semiconductor manufacturing and attract global investments in the state, its investment promotion agency Invest UP said in a statement.
Hiranandani group’s Tarq Semiconductor is expected to invest Rs 28,440 crore while Kaynes Technologies subsidiary Kaynes Semicon is set to invest Rs 4,248 crore. Aditech Semiconductor has proposed an investment of Rs 3,751 crore and Vamasundari Investment Delhi has planned to invest Rs 3,599 crore, the statement noted.
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“The Uttar Pradesh semiconductor policy is poised to revolutionize the industrial landscape of the state, making it a pivotal player in the global semiconductor market,” Invest UP said, adding that the policy not only aligns with national objectives but also positions the state as a competitive and attractive destination for semiconductor investments.
The ‘strategic move’ is expected to attract further investments and pave the way for UP to emerge as a leading industrial hub in the country, it said.
UP follows states like Gujarat, Karnataka and Tamil Nadu, which have been vying to attract chip manufacturers to their
