Uttar Pradesh Switch to Hindi
UP Cabinet Clears Electronics Parts Manufacturing Policy
Why in News?
In a major step to elevate Uttar Pradesh as a global electronics manufacturing hub, the state cabinet has approved the Uttar Pradesh Electronics Component Manufacturing Policy-2025 (UP ECMP-2025).
Key Features of UP ECMP-2025
- About: The policy aligns with the central Electronics Component Manufacturing Scheme (ECMS), with an investment target of Rs 5,000 crore and the creation of lakhs of jobs.
- Objective: The policy aims to promote the production of 11 key electronic components, including displays, camera modules, and multilayer Printed Circuit Board (PCBs).
- With an estimated investment of Rs 5,000 crore, it is expected to generate both direct and indirect job opportunities, making UP a preferred investment destination.
- Governance Framework: A nodal agency, supported by a policy implementation unit and an empowered committee, will oversee the policy's implementation, ensuring efficient governance and smooth execution of initiatives.
- Timeline: The policy will be effective retrospectively from 1st April 2025, with investments made from this date eligible for policy benefits, extending for six years.
- Incentives: Entrepreneurs will benefit from state-level incentives in addition to central benefits under the ECMS, helping strengthen UP’s electronics supply chain and fostering a self-sustaining ecosystem.
- Significance: The policy will foster innovation in electronics manufacturing and reduce India's import dependency, aligning with the government's vision to strengthen the domestic electronics component sector.
Uttar Pradesh Switch to Hindi
UP Approves Export Promotion Policy 2025-30
Why in News?
The Uttar Pradesh Cabinet has approved the new Export Promotion Policy for 2025-30, which is designed to address the challenges faced by exporters and encourage growth in various sectors.
Key Features of the Policy
- Objective: The Export Promotion Policy 2025-30 aims to create a robust export ecosystem in Uttar Pradesh, supporting both new and established exporters, with a goal to double the state’s exports by 2030.
- Sectoral Focus: The policy prioritizes key sectors such as electronics, handicrafts, engineering products, textiles, agricultural products, chemical and pharmaceutical industries, leather goods, sports equipment, glass, ceramics, and service sectors like IT, education, medical, tourism, and logistics.
- One District One Product (ODOP) Focus: The policy emphasizes boosting exports of ODOP items, aligning with the state’s focus on promoting indigenous products.
- Incentives: The policy will provide special incentives to new exporters and startups, including the following provisions:
- Financial Assistance: Up to ₹1 lakh for digital marketing and product cataloguing.
- Virtual Fairs: Up to ₹25,000 for organizing virtual exhibitions.
- Export Certification: Coverage of 75% or up to ₹25 lakh for international product certifications.
- Performance-Based Incentives: Exporters will benefit from export performance-based incentives, including grants for export credit insurance assistance and ECGC coverage expenses, aimed at enhancing export performance.