UP gained Rs 11,000-crore investments to create industrial hubs
By MYBRANDBOOK
UP’s tier-II and -III towns have garnered investments of more than Rs 11,000 crore in the past two years for a gamut of projects, signaling the emergence of new industrial hubs. While the state government has been upgrading infra in smaller centres as well as mofussil towns, the private sector is exploring investment opportunities beyond the established industrial hubs owing to cheaper land rates and additional sops.
According to officials, while investment to the tune of Rs 7,000 crore has been made in different industrial projects in smaller towns, the UP State Industrial Development Authority (UPSIDA) enclaves have witnessed investment of about Rs 4,000 crore in the past six months.
Big projects are coming up in smaller places like Mathura, Chitrakoot, Prayagraj, Sambhal and Sandila vis-à-vis mega industrial backyards of Noida, and Greater Noida, etc.
UPSIDA has a large inventory of developed industrial corridors in Bareilly, Hathras, Agra, Mathura, Farrukhabad, Auraiya, Kannauj, Unnao, Hardoi, Sandila, Chitrakoot, Prayagraj, Rae Bareli, Amethi, and Pilibhit.
The various incentives provided in the state industrial development policy, coupled with a positive change in the bureaucratic outlook towards industrial projects, are beginning to bear fruits. For example, flagship projects of Pepsi, British Paints, Berger Paints, ITC, and Webley & Scott have set up their units on industrial land provided by the UPSIDA.
UPSIDA Chief Executive Mayur Maheshwari said, “Prominent domestic and foreign investors have evinced interest in setting up plants in the smaller towns of UP. The Webley & Scott plant has started commercial production in Sandila (Hardoi district)”. The UK-headquartered company is among the most prolific manufacturers of handguns in the world.
Meanwhile, UPSIDA has created an industrial land pool of more than 12,000 acres to facilitate faster allotment to private companies. The lands of defunct industrial units are also being redeveloped for fresh allotment to investors.
Among the leading beneficiaries, Pilibhit, Amethi, Mathura, Varanasi and Chitrakoot have netted private investment of Rs 1,100 crore, Rs 700 crore, Rs 571 crore, Rs 500 crore, and Rs 475 crore, respectively, in recent months.
The Yogi Adityanath government has set a target of making the state a trillion-dollar economy by 2027 through speedier industrial development and boosting exports.
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