Uttar Pradesh: Electronics City Near Upcoming Jewar Airport To Attract Rs 40,000 Crore Investment

Within days after the Uttar Pradesh cabinet had approved a 700-acre Electronics City project near the upcoming Noida International Airport, the government estimates that the project would attract investments to a tune of Rs 40,000 crore, reports The Times Of India.

The Yogi Adityanath government plans to establish separate clusters for companies from Taiwan, Japan and South Korea as these three countries have a strong base in electronics.

A team from Yamuna Expressway Authority in which the Electronic city is located will be travelling to these countries to interact with potential investors.

“The government is looking at a possible investment of Rs 40,000 crore in the Electronics City. Each proposed cluster here would be set up in an area of 200 acres and out of this, 150 acres would be allotted to electronics companies. Subsidies and other benefits would be offered to companies interested in setting up their units in these clusters,” said a government spokesperson.

“It is expected that especially foreign companies could be investing several crores under the new policy and scheme. This would result in job creation for lakhs of youth. The Electronic City is coming up near the upcoming Jewar Airport which will make the project even more viable for investors,” the spokesperson said.

Uttar Pradesh is fast emerging as an electronics manufacturing hub. The state has successfully achieved the five-year target set for the electronics manufacturing sector in just three years, attracting investments of more than Rs 20,000 crore and generating employment opportunities for three lakh people.