UP can attract Rs 72,000 cr investment in electronics by 2020

Uttar Pradesh has the potential to attract investment of about Rs 72,000 crore (Rs 720 billion) by 2020 in the field of electronics system design and manufacturing, as per Vision 2020 document unveiled by Indian Cellular Association on Tuesday.

"As per the Vision 2020, it is envisaged that investments to the tune of $12 billion (about Rs 72,000 crore) could be realised in the state of UP in the ESDM sector by 2020 with the goal of scaling up total value of electronics hardware manufacturing to $20 billion (Rs 1.2 lakh cr)," ICA National President Pankaj Mohindroo said.

He was speaking on eve of signing of an agreement by ICA with UP government for encouraging and facilitating new investment of up to Rs 1,000 crore in Electronics Manufacturing Clusters (EMCs) being established in the state.

"ICA will encourage its members and facilitate to establish their projects in the proposed Electronics Manufacturing Clusters (EMCs) in UP which are to be established in approximate 100 acre land or more which can generate investments of approximately Rs 1,000 crore (Rs 10 billion)," Mohindroo said.

Some of ICA's prominent members include Apple, Samsung, Microsoft, Nokia, Motorola, HTC, Gionee, Blackberry, Sony, LG, Panasonic, Micromax, Karbonn, Spice, Intex and Lava.

"For establishment of EMCs, the government of Uttar Pradesh would facilitate ICA to obtain necessary permissions, registrations, approvals, clearances etc as per the existing policies, rules and regulations of the government," UP Principal Secretary for IT and Electronics Jiwesh Nandan said.

He said that UP government would also help ICA members to avail incentives under various schemes announced by State and Central Governments, wherever applicable.

Vision 2020 of ICA also visualises creation of additional 3.6 million job opportunities in this sector in UP while pushing the electronics hardware export from the state to $5 billion by 2020 from the current level.