Lucknow, 10 February.
The UP Minister of Information Technology and Electronics said on Friday that the state government has set a target of becoming a $ 1 trillion economy by the year 2027 and digital infrastructure will play an important role in the all-round socio-economic development of the state and thus create a digital economy.
Addressing the session “Uttar Pradesh: Designing and Manufacturing in India, for the world” at the “Uttar Pradesh Investors Summit – 2023”, Yogendra Upadhyay said that the government is improving the technology infrastructure to spread the digital economy in the state and is also preparing the youth for greater participation.
He informed that the Electronics Manufacturing Policy launched in 2017 has attracted investment of more than Rs 21,000 crore in the state. The state has given birth to a new ecosystem of electronics manufacturing under the leadership of CM Yogi. The Electronics Manufacturing Policy 2020 has been modified to meet the needs of investors and make implementation easier.
He further said that the massive outreach program undertaken by the government to invite investment in semiconductor units has generated immense interest in the investors community, globally and several proposals have been received for investment in this sector. The government is working with full dedication to give shape to these projects.
During the session, the panelists also discussed that electronics manufacturing in India is growing at a very high rate. Domestic production of electronics goods in 2015-16 was Rs 2,43,263 crore (US$ 37 billion) which has now increased to Rs 5,54,461 crore (US$ 74.7 billion) in 2020-21, at a compound annual growth rate of 17.9 percent.
The objective of the session “Uttar Pradesh: Designing and Manufacturing in India, for the World” was to highlight the state’s opportunities and policies for the electronics manufacturing sector and discuss the growth potential, challenges and future strategies.
