Saturday, September 20, 2014: After witnessing the successful foreign investment, the Akhilesh Yadav government has its eyes glued on bringing electronics manufacturing industry to the state. Even though the state is known for numerous power cuts, the UP government has agreed to sign an MoU to offer constant power supply to the proposed manufacturing clusters.
The state is advertising its ‘Electronics Manufacturing Policy’ 2014 as a ‘gamechanger’ policy. After the companies in the Netherlands, particularly Royal Philips, showed interest in being part of the state’s electronic industry, the policy observed a remarkable growth. The senior officials have already started making comparative charts using their existing policies on electronic manufacturing cluster in AP, West Bengal, Karnataka and Tamil Nadu to make a lucrative presentation in front of investors.
Governement is planning to start with promotion of electronic manufacturing clusters in National Capital Region. The UP government has given an additional grant equivalent to 50 per cent which is provided by Centre under National Policy for Electronics and 25 per cent discount on th present rates to purchase land along with ‘protective load status” to the clusters. While other states provide five per cent interest subsidy up to five years, UP has made it to seven years. It has also made two acres as incubator centre in each of these clusters to invite start-ups.
