Uttar Pradesh receives proposals worth Rs 40,000 crore under new semiconductor policy

The government of Uttar Pradesh has received proposals for projects totalling around Rs 40,038 crore under its new policy to incentivise semiconductor manufacturing and attract global investments in the state, its investment promotion agency Invest UP said in a statement.

Hiranandani group’s Tarq Semiconductor is expected to invest Rs 28,440 crore while Kaynes Technologies subsidiary Kaynes Semicon is set to invest Rs 4,248 crore. Aditech Semiconductor has proposed an investment of Rs 3,751 crore and Vamasundari Investment Delhi has planned to invest Rs 3,599 crore, the statement noted.