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Reading: UP Chief Secretary Commits to Prompt Incentive Payments for Electronics Sector
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UP chief secretary assures timely payout of incentives to electronics industry
Breaking India News Today | In-Depth Reports & Analysis – IndiaNewsWeek > Nation > UP Chief Secretary Commits to Prompt Incentive Payments for Electronics Sector
Nation

UP Chief Secretary Commits to Prompt Incentive Payments for Electronics Sector

Nation Desk By Nation Desk December 24, 2024 2 Min Read
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Uttar Pradesh’s Chief Secretary, Manoj Kumar Singh, has reassured stakeholders in the electronics sector about the timely distribution of state incentives. During a meeting organized by the Indian Cellular and Electronics Association (ICEA), he emphasized the government’s dedication to creating manufacturing-friendly policies that encourage investment throughout the electronics value chain. Furthermore, he highlighted efforts to improve housing infrastructure for workers within electronics clusters.

Singh mentioned the government’s proactive support for private companies looking to establish manufacturing hubs. Notable electronics manufacturers, including Dixon, Micromax, Karbon, Amber, and Zetwerk, participated in the discussions.

The conversation centered around addressing industry challenges and strategizing to position Uttar Pradesh as a leading center for electronics manufacturing. According to ICEA, the state has become a key player in India’s electronics sector, contributing around 40-45% of the nation’s electronics production and about 60% of mobile phone production by value in the fiscal year 2024. Additionally, Uttar Pradesh is responsible for roughly 15.3% of the country’s electronics exports and around 25% of mobile phone exports.

Pankaj Mohindroo, Chairman of ICEA, stated, “Uttar Pradesh should play a crucial role in achieving India’s $500 billion electronics manufacturing target by 2030, aiming for a substantial share of $200 billion. Furthermore, the state needs to engage in aggressive global outreach and contemplate establishing international offices to enhance integration with global value chains (GVCs) and attract major international brands to India.”

Anil Sagar, Principal Secretary of the Infrastructure and Industrial Development Department, encouraged industry stakeholders to take full advantage of Uttar Pradesh’s Electronics and Semiconductor Policy, reiterating that the policy framework is tailored to boost the growth of electronics and semiconductor manufacturing within the state.

The Uttar Pradesh Electronics Manufacturing Policy 2020 offers financial incentives aimed at transforming the state into a global hub for electronics production.

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