Lucknow: Uttar Pradesh has attracted investment commitments worth more than ₹45,000 crore from eight leading companies, including HCL-Foxconn, Avada Electro, Amber Enterprises and SAEL Solar, in a major boost to the state’s manufacturing ecosystem. The projects, coming up in Gautam Buddha Nagar, are expected to generate over 25,000 direct jobs across semiconductor, electronics and renewable energy sectors.
The investments reflect growing industry confidence in Uttar Pradesh’s business-friendly policies, improving infrastructure and streamlined approval mechanisms.
Policy Push Driving Investor Confidence
The state government credits the investment momentum to its Industrial Investment and Employment Promotion (IIEP) Policy 2022, FDI/FCI Policy 2023, and Semiconductor Policy 2024.
Six of the eight projects have received support under the IIEP Policy, while Ascent Circuits is being assisted under the FDI Policy. HCL-Foxconn (India Chip Pvt. Ltd.) has received special incentives under the Semiconductor Policy 2024 to facilitate faster approvals and project implementation.
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Green Energy Projects Receive Major Share
- Renewable energy has emerged as the biggest investment segment.
- Avada Electro Ltd. will invest ₹16,139 crore, creating around 7,400 jobs.
- SAEL Solar will invest ₹8,000 crore, generating employment for 7,760 people.
- Oriana Power will invest ₹4,500 crore.
- CESC Green Power will invest ₹3,805 crore.
These projects are expected to strengthen Uttar Pradesh’s position as a major green energy manufacturing destination.
Semiconductor and Electronics Manufacturing Expands
The state is also making significant progress in high-tech manufacturing.
HCL-Foxconn will establish a semiconductor manufacturing unit with an investment of ₹3,706 crore, creating 3,000 jobs. Ascent Circuits will invest ₹3,250 crore to strengthen the electronics supply chain.
In addition, Amber Enterprises and IB Solar will invest ₹3,232 crore and ₹3,000 crore, respectively, creating more than 6,200 employment opportunities.
Boost for MSMEs and Local Supply Chains
The large investments are expected to benefit not only large industries but also Uttar Pradesh’s MSME sector. Modern expressways, the Dedicated Freight Corridor, logistics parks and a transparent single-window clearance system are expected to improve industrial connectivity and strengthen local supply chains.
Officials believe the projects will encourage further private investment while expanding opportunities for ancillary industries and skilled employment.
Towards a $1 Trillion Economy
The latest investment commitments reinforce Uttar Pradesh’s ambition of becoming a $1 trillion economy. With major companies choosing Gautam Buddha Nagar for manufacturing in semiconductor, electronics and green energy sectors, the state is positioning itself as one of India’s leading industrial destinations.
The projects are expected to accelerate industrial growth, create thousands of quality jobs and enhance Uttar Pradesh’s competitiveness in advanced manufacturing.
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