UP Govt Assures Electronics Industry Incentives

Share:    

Dec 16, 2024 19:25

Uttar Pradesh government assures timely disbursement of incentives to electronics industry, aiming to attract manufacturers and boost production. The state currently accounts for a significant share of India's electronics manufacturing, with plans to contribute to the country's USD 500 billion...
UP Govt Assures Electronics Industry Incentives
New Delhi, Dec 16 (PTI) The Uttar Pradesh government has assured timely disbursement of incentives to the electronics industry to encourage entities for setting up manufacturing units in the state, mobile phone industry body ICEA said on Monday.

Electronics manufacturers, including Dixon Technologies, Zetwerk, Tata Electronics, Micromax, Karbon, and Amber met Chief Secretary Manoj Kumar Singh on December 10 to discuss the development in the sector.

"Singh assured timely disbursement of state incentives to the electronics industry and extended the state's unwavering support to private entities to establish manufacturing clusters," India Cellular and Electronics Association (ICEA) said in a statement.


According ICEA data, Uttar Pradesh has emerged as a cornerstone of India's electronics manufacturing landscape. In 2023-24, the state accounted for approximately 40-45 per cent of India's electronics production and around 60 per cent of the nation's mobile phone production by value.

"The government is committed to providing all possible support by implementing manufacturing conducive policies that promote investments across the electronics value chain, a greater role for women in the workforce and facilitate housing infrastructure for workers in the electronics clusters," Singh said in the statement.

Uttar Pradesh also contributes around 15 per cent to the country's electronics exports and around 25 per cent to mobile phone exports, the statement said.

"Uttar Pradesh should contribute significantly to India's USD 500 billion electronics manufacturing goal by 2030, with a major share of the USD 200 billion. Furthermore, UP must undertake aggressive global outreach and should consider establishing international offices, which will facilitate the integration with Global Value Chains (GVCs), and draw major international brands to India," ICEA Chairman Pankaj Mohindroo said.
Share:    

TODAY'S MOST TRADED COMPANIES

  • Company Name
  • Price
  • Volume

See More >

Moneywiz Live!

Home

Market News

Latest News

International Markets

Economy

Industries

Mutual Fund News

IPO News

Search News

My Portfolio

My Watchlist

Gainers

Losers

Sectors

Indices

Forex

Mutual Funds

Feedback