Lucknow: Claiming that UP govt was working diligently towards realising the PM’s dream of increasing India’s prowess insemiconductor manufacturing, officials said that the state was gearing up to compete withTaiwan, US and Korea.“India’s aspiration to become the world’s third superpower hinges on the nation’s semiconductor prowess. Aware of the opportunity in this goal, UP is working towards realising this vision with a sense of urgency,” an official spokesperson said on Wednesday.The state is already out with an elaborate incentive rich policy to boost semiconductor manufacturing in the state, they said, adding: “UP is the fourth state in India to have a comprehensive policy tailored specifically for the semiconductor industry. Drafted in consultation with industry experts, the policy promises a conducive ecosystem for growth”.The policy entails a broad spectrum of financial and non-financial incentives such as centre of excellence, patent registration fee waivers and industrial housing, while an array of non-financial incentives including critical infrastructure provisions, uninterrupted power supply and self-certification facilities are poised to provide support to semiconductor ventures.Officials in Invest UP said the policy has garnered praise from senior officials representing entities such as Hiranandani Group, Torque Semiconductor, Vedanta, AMD, Intel, Kaynes Technology, Jindal Group, AM Technical Solutions, Nomis Power, as well as prominent industry associations like Indian Cellular and Electronics Association (ICEA) and Electronics Industries Association of India (ELCINA).“With the formulation of this policy, approximately 24 sectors stand poised to catalyse a market worth nearly Rs 1.5 trillion in the country by 2025. These sectors span a diverse array of industries including automotive, aviation, biotech, IT and business process management, pharmaceuticals, chemicals, defence, renewable energy, electronics and many more,” they said.Currently, Taiwan stands as a dominant force in semiconductor manufacturing, with the Taiwan Semiconductor Manufacturing Corporation (TSMC) alone accounting for 60% of the world’s semiconductor output.Beyond Taiwan, key players such as the United States, Japan, Korea and China exert significant influence in this pivotal sector. Companies like Intel from the United States and Samsung from Korea wield considerable sway in shaping the semiconductor manufacturing industry.We also published the following articles recentlyMin: Fresh IT and industry policies soonNirmala buoys hope in states tourism industry