Lucknow, Jan 18 (PTI) The Uttar Pradesh Cabinet on Thursday gave its approval to the state's own semiconductor policy which aims to attract investments in the sector and aid the country's push towards chip manufacturing.

The state Cabinet chaired by Chief Minister Yogi Adityanath gave its approval to the Semiconductor Policy 2024.

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"This approval is expected to attract significant investments in the state on a large scale. The policy aims to make Uttar Pradesh a leader in the semiconductor manufacturing sector," Cabinet Minister Yogendra Upadhyay said.

Enterprises investing in semiconductor manufacturing units will receive Rs 80,000 crore from the Centre, with the state government contributing 75 per cent of this amount, he said.

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The policy also includes provisions for providing financial incentives to industries and a subsidy of 75 per cent on land up to 200 acres in the form of land subsidy, he said, adding that so far, 13 companies have expressed their intention to set up semiconductor manufacturing units in the state.

Besides, adequate water and uninterrupted electricity will be provided to these units.

As per the policy, the state government will provide Rs 10 lakh for patents at national level and Rs 20 lakh for patents at the international level.

Collaborations with the industry will be done under the CM Internship Program to ensure the availability of skilled workforce. Furthermore, arrangements for training related to semiconductor manufacturing will be made in the technical institutes of the state, he said.

Before Uttar Pradesh, Gujarat, Odisha, and Tamil Nadu have formulated semiconductor policies, Upadhyay said

Meanwhile, the state Cabinet also approved setting up of three new private universities in Uttar Pradesh.

Upadhyay, who is also the higher education minister, said that proposals for the establishment of JSS University in Noida, Saroj University in Lucknow, and Sharda University in Agra under the private sector have been approved.

He said that there has been significant improvement in the quality of higher education in the state and currently, the state boasts of five government and five private universities in the A++ ranking.

In addition, there are three universities with A+ ranking, he said.

The Cabinet also approved the proposal to change the name of Mundera Nagar Panchayat in Gorakhpur to Chauri Chaura.

This decision reflects a gesture of respect towards the legacy, marking the centenary year of the historical Chauri Chaura incident during the independence movement.

An approval was also given to make changes in the Uttar Pradesh Micro, Small and Medium Enterprises Promotion Policy to exempt private MSME units and PLEDGE parks from conversion fees for changing the land use under development authorities from agricultural to industrial.

Besides, the cabinet has also gave its nod to exempt the Metro Rail, RRTS (Regional Rapid Transit System), and all their assets from acquisition under the Uttar Pradesh Municipal Corporation Act, 1959.

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