UP Government approves semiconductor incentives, targets Rs 3,000 crore investment
The Uttar Pradesh state Government has approved a package of special incentives under the Semiconductor Policy 2024. These incentives are aimed at attracting large-scale investments of Rs 3,000 crore and above in the sector.
As per the updates incentives will be provided on a case-by-case basis and include: interest subsidies, reimbursement of employee costs, full exemption from net SGST (State Goods and Service Tax) for 10 years, 100 per cent EPF (employee provident fund) reimbursement for residents of Uttar Pradesh up to Rs 2,000 per month, water tariff concessions, and a relief of 2 rupees per unit on electricity bills for 10 years.
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