Uttar Pradesh government has achieved its five year targets for the electronics manufacturing sector in just three years, it has claimed. In three years, it has attracted investments of Rs 20,000 crore and generated employment for three lakh persons. The government has said that due to its policies, especially during the Covid-19 period, companies from China, Taiwan, Korea have shown interest in investing in the state.
An Electronic Manufacturing Cluster is also being set up in the National Capital Region where foreign companies like Oppo, three Indian companies and four Taiwanese companies are setting up their units with an expected investment of Rs 2,000 crore.
“We had to achieve the target of getting investment of Rs 20,000 crore and employment to three lakh persons by 2022 but achieved it two years earlier with as many as 30 investors ready to invest in the sector due to the policies of the state,” said Alok Tandon, industrial infrastructure and industrial development commissioner. He added that Noida, Greater Noida, and Yamuna Expressway areas had come up as electronics manufacturing hubs. Samsung, with the largest mobile phone manufacturing unit in the world, is also located in Noida.
Tandon said that these gains were possible due to the government’s ‘UP Electronics Manufacturing Policy-2017’ which was introduced to encourage investment in the sector. Under the policy, Noida, Greater Noida and Yamuna Expressway have been declared as ‘Electronics Manufacturing Zones’. “After the success of the 2017 policy, the government brought out a more advanced UP Electronic Manufacturing Policy-2020 in August 2020 which aimed at developing the electronics sector in all parts of the state.
In view of the successful investment scenario in the sector, the government has now decided to revise the target to bring fresh investments of Rs 40,000 crore and further generate 4 lakh employment in the next five years,” Tandon said.
Under the 2020 policy, three electronics manufacturing clusters, which include an electronic city near the Jewar Airport on Yamuna Expressway, a defence electronics manufacturing cluster in Bundelkhand, and a medical electronic manufacturing cluster in the Lucknow-Unnao-Kanpur zone, are proposed to be established. In addition to this, the government also aims at establishing manufacturing industries in Bundelkhand and Purvanchal regions for which it has announced various financial incentives under the new policy.
The post Uttar Pradesh achieves 5-year Electronics Manufacturing target in 3 Years appeared first on ELE Times.
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