Friday, 5 January 2018

UP as a electronic manufacturing zone

The Uttar Pradesh government introduced UP Electronics Restructuring Policy under which Noida, Greater Noida and Yamuna Expressway will be declared as electronic manufacturing zone and will be part of Electronics System Design and Manufacturing (ESDM) industries.

Deputy Chief Minister Dr Dinesh Sharma said that the policy aimed at making Uttar Pradesh as electronics manufacturing hub by projecting the state as ‘preferred destination’ of electronic giants, who will be provided all facilities under one roof.

“The objective of the project is to generate employment for the youth. We have set a target to attract investment worth Rs 20,000 crore under ESDM sector which would generate over 3 lakh jobs by 2022,” he said.

Sharma said that the government also wanted private entrepreneurs to set up ESDM Parks across the state which would revive local economy and boost the GSDP.

Under the new policy, the state government would resolve problems that entrepreneurs may face through single window system. In some case, the government may also arrange finance and would allow concessions as per Industrial Policy announced recently.

Sharma, who is also IT and Electronic minister in the Yogi government, said that ESDM units might get cent per cent rebate in stamp duty and would also reimburse State GST.

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