Centre Approves INR 417 Cr Electronics Cluster in UP

The electronics and IT ministry (MeitY) has approved INR 417 Cr electronics manufacturing cluster in Uttar Pradesh’s Gautam Buddha Nagar. The project will be developed by the Yamuna Expressway Industrial Development Authority (YEIDA).

The cluster, near the upcoming Noida International Airport, is expected to attract INR 2,500 Cr in investment and create over 15,000 jobs. It will offer ready infrastructure, common facilities, and faster clearances to electronics firms.

Union minister Ashwini Vaishnaw said that the location gives the cluster strong logistics access.

Notably, this is part of the second phase of the Electronics Manufacturing Cluster (EMC 2.0) scheme. The Centre said that around INR 30,000 Cr of investments have been made under EMC so far by 520 companies, resulting in creation of over 86,000 jobs.

EMC 2.0 will focus on areas like semiconductors, displays, electronic components, and IoT devices. The aim is to cut import dependency and boost India’s standing in global electronics manufacturing.

The scheme will support the Centre’s Make in India, Digital India, and the Semicon India programme. This comes at a time when the Union government has been taking steps to make India a global manufacturing hub.

While a number of smartphone makers, including Apple and Google, have set up their manufacturing facilities in the country, the focus has now turned to producing electronic components and other items in the country.

As part of this push, the Union cabinet also approved a production linked incentive (PLI) scheme for non-semiconductor electronics components with an outlay of INR 22,919 Cr earlier this year. It aims to attract an investment of INR 59,350 Cr, resulting in production of INR 4,56,500 Cr.

Recently, the Centre also eased the norms for special economic zones (SEZ) to attract more investment in semiconductors and electronics. It reduced the minimum land required for electronics SEZs to 10 hectares from 50 hectares earlier and for multi-product SEZs to 4 hectares from 20 hectares earlier.

Further, mortgaged or leased land can now be used, and firms have more flexibility in inventory management and sourcing.

The post Centre Approves INR 417 Cr Electronics Cluster in UP appeared first on Inc42 Media.