Uttar Pradesh: Land identified near Jewar for electronic park

LUCKNOW: The state government has identified land near the upcoming Jewar airport for setting up of an electronics manufacturing park.

Minister for industries Satish Mahana said the proposal would be sent to NCR Planning Board for necessary clearances.
“Chief Minister Yogi Adityanath had asked the department to scout for land near upcoming airport for electronics manufacturing park. We immediately asked the Greater Noida Authority to identify land which has found a suitable site along the Yamuna Expressway,” he said.
The government is also on the verge of finalising the revised Electronics Manufacturing Policy-2020 through which investment will be encouraged.
Under the policy, the government is expected to declare the entire Noida-Greater Noida-Yamuna Expressway, Lucknow-Kanpur-Unnao and Bundelkhand areas as electronics manufacturing zones.
The government hopes to attract investments of Rs 40,000 crore in manufacturing and generate 4 lakh jobs by 2024. The state will provide subsidies and incentives over and above of what the Centre is currently offering.
The new policy, a makeover of the one introduced in 2017, will give additional benefits to investors. As the government is proactively pursuing investors, especially those who are looking to shift their businesses out of China in the aftermath of Covid pandemic, it is revising several policies, including electronics manufacturing policy.
NRI minister Sidharth Nath Singh said, “UP will be the future electronics hub of India. The government policy will encourage deep skilled manpower in electronics. Many major electronics manufacturers are in discussions with us to bring more investments in UP by enhancing existing capacities and fresh investment.”
As per the proposed policy, the maximum limit of incentive on investment of up to Rs 200 crore has been fixed at Rs 10 crore. This is the capital subsidy on fixed capital other than land. Investments between Rs 200 and Rs 1,000 crore will get maximum subsidy of Rs 150 crore.
Among other proposals, domestic and foreign investors who set up units in the park in a minimum area of 50 acre will be entitled to 25% land rebate. There is a 100% exemption from tax duty for purchase or lease of land on the first transaction and 50% on the second. Reimbursement of electricity duty for 10 years to all units applying under the UP Electronics Manufacturing Policy will be made.
An official said the financial implication of the proposed policy over the next 10 years was expected to be around Rs 4,035 crore. “This will include capital subsidy and refurbished machines, interest subsidy, stamp duty exemption, patent cost reimbursement, land rebate, and electricity duty rebate,” he added.
Works that will be permitted under the new policy include manufacturing of telecom products, intermediate products, electronic precision parts, semiconductors and accessories, capital equipment for electronic products, biometric and identity devices, health and medical electronics equipment, consumer appliances, LED and LED products, battery and parts manufacturing, e-waste processing, avionics and industrial electronics, automotive electronics and multi-purpose electronic devices.