The UP chief minister (CM) laid the foundation stone for a 100-acre greenfield electronics manufacturing cluster (EMC) of TEGNA Electronics, an ambitious project that is expected to attract investments of about Rs 3,500 crore in the coming years and create 25,000-30,000 jobs.
Uttar Pradesh’s enabling policies, investor-friendly environment and better connectivity have positioned it as an ideal investment destination, particularly for electronics manufacturing, Chief Minister Yogi Adityanath said Friday. The UP chief minister (CM) laid the foundation stone for a 100-acre greenfield electronics manufacturing cluster (EMC) of TEGNA Electronics, an ambitious project that is expected to attract investments of about Rs 3,500 crore in the coming years and create 25,000-30,000 jobs.
Highlighting that the state had attracted investment commitments of over Rs 4 lakh crore during the UP investor summit held last year, Adityanath said UP has transformed itself in recent years, offering a compelling proposition for investors.
“India is taking great strides in mobile and mobile component manufacturing and over 50 per cent of that work is happening in UP,” he said. The UP CM said the electronics segment provides a huge opportunity for development and employment generation, setting up of such clusters would amplify opportunities further.
Stating that his government had a strong focus on mega infrastructure projects such as Bundelkhand Defense Corridor and the Jewar international airport project, he said the state is committed to providing a safe environment to all investors.
Noting the significance of technology in better governance and attacking corruption, he said that information technology (IT) has offered a platform to take the government schemes and programmes to the common man. Speaking on the occasion, IT Minister Ravi Shankar Prasad said the Centre’s efforts to boost manufacturing through various programmes have resulted in over 268 mobile components and accessories units being set up.
The minister said 2-3 new programmes, including an electronics policy and an electronics cluster policy, are on the anvil to promote local manufacturing and position India as a global hub for high-tech products. He urged the UP chief minister to promote more clusters in the state to put India ahead of global electronics hubs such as China and Taiwan.
Located in Ecotech VI at the Industrial Township in Greater Noida, the new EMC is expected to attract an investment of about Rs 3,500 crore over 5-10 years. About two lakh product units are expected to be produced daily in the cluster, generating a direct employment of about 25,000 to 30,000 people and indirect employment to one lakh people. The project is expected to be completed over 18 months.
TEGNA Electronics is a special purpose vehicle of the Taiwan Electrical and Electronics Manufacturers Association (TEEMA) along with smartphone maker Oppo and a clutch of other companies such as Foxlink Group, Waffer Group.
Companies establishing their production base in the upcoming EMC plan to manufacture mobile phones and accessories, data storage and super computing servers, USB cable, power banks, AC Adapters, memory cards and other components.
“EMC in Greater Noida will help us implement innovative and exciting technologies in future projects that we introduce in India as well as help us build a local ecosystem for smartphone devices,” Oppo India Vice-President and R&D Head Tasleem Arif said in a statement.