The state government on Sunday said it has set the target of inviting investments worth Rs 40,000 crore which could provide employment to four lakh people in the next five years under the new UP Electronics Manufacturing Policy-2020.
Under the new policy, multi-national companies like Microsoft, MAQ, Adani Group, Hiranandani Group, Netmagic Services, STT Pvt Limited and Agarwal Associates Ltd have taken the initiative to set up data centres in Noida. A state government spokesperson said this could become possible due to the steps taken to promote investments in IT sector.
The government’s new Electronics Manufacturing Policy-2020 has promised to give several concessions to the investors setting up semiconductor industry in the state. Due to this policy, big investors are investing in the electronics manufacturing sector in Noida.
Officials of the IT department said many reputed companies from China, Taiwan and Korea were investing in the IT sector in UP.
“These companies will also invest in semiconductor sector,” the spokesperson said.