whispers in the corridors
Uttar Pradesh government has rolled out lucrative incentives targeting Global Capability Centres (GCCs) and semiconductor manufacturing units investing ₹3,000 crore or more. The cabinet, chaired by CM Yogi Adityanath, approved case-by-case benefits including interest subsidies, 10-year net SGST exemptions, power tariffs capped at ₹2/unit, 100% EPF reimbursement up to ₹2,000/month for local hires, and concessional water rates. This aligns with the UP Semiconductor Policy 2024 and India Semiconductor Mission, building on projects like the HCL-Foxconn fab near Jewar Airport . Heavy bureaucratic push from the CMO signals intent to position UP as India's semiconductor hub, with ₹32,000 crore proposals under review from firms like Tarq Semiconductors.
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