LUCKNOW: Working on a proposal to set up an electronic manufacturing park near upcoming Jewar International airport, the Uttar Pradesh government has identified land for the purpose and is ready to send the proposal to NCR Planning Board for necessary clearances.
As per the sources, with state government in final stages of bringing out the revised Electronics Manufacturing Policy-2020 to draw more investment in the sector, Chief Minister Yogi Adityanath had issued directives to identify land near upcoming airport for electronics manufacturing park. Greater Noida Authority was entrusted with the task and it has identified a suitable site along the Yamuna Expressway, said the sources.
However, under the revised Electronic manufacturing policy-2020, the government may declare the entire Noida-Greater Noida-Yamuna Expressway, Lucknow-Kanpur-Unnao and Bundelkhand areas as potential electronics manufacturing zones. Mulling subsidies and incentives over and above of what the Centre is currently offering for the purpose, UP government expects investments worth Rs 40,000 crore in electronic manufacturing sector coupled with the creation of 4 lakh jobs by 2024, said the sources adding the new policy is the revised version of the one introduced in 2017.
Notably, UP government is making concerted efforts to woo the investors who are looking to pull out of China in the aftermath of Covid-19 pandemic. The sources in NRI ministry claimed that a number of electronics manufacturers were in contact with the authorities in UP in connection with investments.
As per the proposed policy, the investment of up to Rs 200 crore would get a maximum incentive fixed at Rs 10 crore. This is the capital subsidy on fixed capital other than land.
Meanwhile, the subsidy for investments between Rs 200 and Rs 1,000 crore will be of Rs 150 crore. Moreover, investors who would set up units in the park in a minimum area of 50 acre will get 25% land rebate. Reimbursement of duty on power for 10 years to all units applying under the UP Electronics Manufacturing Policy will be allowed. The revised policy encompasses manufacturing of telecom products, multi-purpose electronic devices among others.