UP To Woo The Semiconductor Industry

Lucknow, December 22 (TNA) The Central Government has recently approved the Production Linked Incentive (PLI) scheme for the promotion of the semi-conductor industry in the country. The PLI scheme is expected to lead to an investment of Rs 76,000 crore in semiconductor manufacturing over the next 5 to 6 years.

This scheme will help in the design, manufacturing, packing and testing of microchips in the country and develop a complete ecosystem. This scheme of the central government will lead to huge investment in the semiconductor industry in Uttar Pradesh and it is expected that due to the new Electronics Manufacturing Policy-2020 of the state, it will further reap rich dividends.

Semi conductors are colloquially called integrated circuits or ICs. In this policy brought in August last year, a provision has been made to promote the semiconductor (IC) industry. Officers working in the IT sector believe that UP's new Electronics Manufacturing Policy-2020 will entice the semiconductor industry.

Under the Electronics Manufacturing Policy-2017 of the State Government, the target of investment of Rs 20,000 crore has been achieved in three years by investments of about 30 investors. More than three lakh jobs were created through this investment. After this, under the new UP Electronics Manufacturing Policy-2020 brought out in August 2020, a target of investing Rs 40,000 crore and providing employment to four lakh people has been set in the next five years.

Under this new policy, multi-national companies like Microsoft, MAQ, Adani Group, Hiranandani Group, Netmagic Services, STT Private Limited and Agarwal Associate Limited have taken the initiative to set up data centers in Noida. All this has been possible due to the IT policy brought by Chief Minister Yogi Adityanath to promote investment in the IT sector and the officers were given the responsibility to remove the problems of the businessmen who want to invest in this sector.

Officials of the IT department say that in UP, many reputed companies from China, Taiwan and Korea have invested in the IT sector and point out that these companies also will take initiative to invest in the semiconductor sector. This will be beneficial for them because semiconductors are used in all the electronic devices that are being made at present.