Uttar Pradesh government is estimating that the newly approved 700-acre Electronics City project near the upcoming Noida International Airport will attract investments of Rs 40,000 crore.
UP CM Yogi Adityanath has proposed to establish separate clusters for companies from Taiwan, Japan and South Korea as these have the strongest electronics base.
A team will be travelling to these countries to interact with potential investors.
“The government is looking at a possible investment of Rs 40,000 crore in Electronics City. Each proposed cluster here would be set up in an area of 200 acres and out of this, 150 acres would be allotted to electronics companies. Subsidies and other benefits would be offered to companies interested in setting up their units in these clusters,” said a government spokesperson.
“It is expected that especially foreign companies could be investing several crores under the new policy and scheme. This would result in job creation for lakhs of youth. The Electronic City is coming up near the upcoming Jewar Airport which will make the project even more viable for investors,” the spokesperson said.
Uttar Pradesh is developing as a hub of IT/ITeS services and Semiconductor industry with progressing infrastructure, good connectivity, rich labour pool, policy and fiscal incentives for investors.
It has been emerging as an electronics manufacturing hub after successfully achieving the five-year target set for the electronics manufacturing sector in just three years, attracting investments of more than Rs 20,000 crore and generating employment opportunities for three lakh people.