"Uttar Pradesh clears the path for ₹3,000 crore in semiconductor deals with new incentive package."

The Uttar Pradesh Cabinet recently approved a set of incentives to attract semiconductor companies proposing investments of ₹3,000 crore or more in the State, a move aimed at strengthening high-end manufacturing and creating large-scale employment opportunities.

Briefing the media after the Cabinet meeting chaired by Chief Minister Yogi Adityanath, Finance Minister Suresh Kumar Khanna said that 14 proposals were placed before the Council of Ministers. Of these, one proposal was deferred, while the remaining 13 were approved.

Mr. Khanna said the State’s semiconductor policy, unveiled in January 2024, provides for incentives on a case-by-case basis for companies undertaking major investments, particularly in capital-intensive sectors such as semiconductor manufacturing.