The Uttar Pradesh government’s recent approval of financial incentives worth over ₹8,500 crore for two ambitious semiconductor projects is set to elevate the state’s role in India’s growing semiconductor ecosystem. Spearheaded by Tarq Semiconductors Pvt Ltd and Vama Sundari Investments (Delhi) Pvt Ltd, these projects will inject a combined investment of ₹32,146 crore into the region near Noida International Airport, making it a strategic hub for high-tech manufacturing.
Darshan Hiranandani, CEO of the Hiranandani Group, expressed readiness to begin construction as soon as the final approval from the central government is secured. With a ₹28,440 crore investment, Tarq Semiconductors aims to produce advanced compound semiconductors and optoelectronic components in Sector 28. Meanwhile, Vama Sundari Investments will invest ₹3,706 crore in Sector 10, focusing on display driver integrated circuits (DDIC) and semiconductor assembly.
Darshan Hiranandani - Arun Vir Singh, CEO of Yamuna Expressway Industrial Development Authority (Yeida), emphasized the transformative potential of these projects, noting that they will place Uttar Pradesh at the forefront of India’s semiconductor landscape. Alongside significant job creation—11,000 direct and indirect roles—these projects will benefit from various incentives such as capital subsidies, land rebates, and tax exemptions. The provision of 10-year electricity duty exemptions, dual power grid support, and annual internships for 500 engineering students further underscores the government’s commitment to fostering a robust semiconductor ecosystem.
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