2023: UP attracts investment of Rs 40 lakh crore, 1 crore youths to get employment opportunities
Uttar Pradesh is advancing to become a trillion-dollar economy, industrial activities increase in every district
Lucknow, December 26: Owing to Chief Minister Yogi Adityanath’s visionary policies and skilled management, Uttar Pradesh attracted investment proposals worth more than Rs 40 lakh crore in 2023 and is moving forward to become a trillion-dollar economy. After the UPGIS 2023, the continuous process of investment is ongoing in the state. This is expected to create employment opportunities for one crore youths of the state.
Notably, efforts are underway to implement these investment proposals on the ground and in the initial months of the year 2024, there are preparations to launch projects worth Rs 15 lakh crore through the first phase of the Ground Breaking Ceremony (GBC). Some of these projects have grabbed headlines throughout the year and are swiftly moving towards implementation.
Efforts underway to develop Lalitpur Bulk Drug Park, Uttar Pradesh Defense Corridor, Purvanchal Industrial Corridor and Lucknow AI City
The Yogi government is developing a Bulk Pharma/ Drug Park in Lalitpur in two phases across a total of 1472 acres in five villages. Currently, first phase work of preparing the detailed project report, mapping, soil sampling, and the process of structural development are underway, covering an area of 300 acres.
Film City, Logistics Park, Medical Device Park, Data Centre and Toy Park also being developed
In Greater Noida, the development of Film City, Logistics Park, Medical Device Park, Data Center, Electronic Manufacturing Cluster, Dedicated MSME Apparel, Handicrafts and Toy Park in Sector 21 is progressing through various phases. The allocation of land and the structural development process for investors in Logistics Park, Medical Device Park, Data Center Park, and Electronic Manufacturing Clusters are underway. The focus is on facilitating the establishment of manufacturing plants for major companies in the Electronic Manufacturing Cluster by allocating land and completing other processes. Meanwhile, the process of developing industrial and commercial spaces in Dedicated MSME Apparel, Handicrafts, and Toy Parks has been initiated. All related land allocation schemes and development processes for these projects are being completed by the Yamuna Expressway Industrial Development Authority, Greater Noida Industrial Development Authority, and the Uttar Pradesh State Industrial Development Authority.
AI City, Lucknow
In Lucknow, the process of developing an Artificial Intelligence (AI) City has begun in Nadarganj. The Uttar Pradesh Electronics Corporation Limited (UPECL) will undertake the development of this proposed city under the Uttar Pradesh Electronics Manufacturing Policy (UPEMP). In the first phase of the project, construction will take place for an AI-based Cyber City on a 40-acre land parcel.
As part of this project, there will be well-designed Grade-A certified commercial spaces for IT companies, state-of-the-art data centres, Grade-A flexible workspaces, and tech labs. Additionally, the development plan includes the construction of luxury and affordable housing complexes along with commercial spaces, a recreation area, green spaces, and various world-class amenities.
GIDA Plastic and Toy Park, Gorakhpur
The Gorakhpur Industrial Development Authority (GIDA) is in the process of developing the Plastic and Toy Park in Gorakhpur, and this development is happening in several phases. Several plants have already been established, while work on the development of others is ongoing. In the year 2023, GIDA allocated plots to investors through various plot allocation schemes for setting up plants in this project. Investors setting up plants here are being provided with various incentives and necessary facilities by the state government to encourage their investment.
Uttar Pradesh Defense Corridor
The Uttar Pradesh Defence Corridor is an initiative to meet the defence needs of the country and make the nation self-reliant in this sector. Under the Defence Corridor in Uttar Pradesh, manufacturing of various defence equipment, including BrahMos missiles, will be undertaken in the coming years. With this objective, in the year 2023, the Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) is conducting surveys and air, water, and soil testing in various designated areas under the Defence Corridor. After the completion of these processes, it is expected that the projects will gain momentum in the year 2024.
Purvanchal Industrial Corridor
The development process of the Purvanchal Industrial Corridor was initiated in Uttar Pradesh in the year 2023. It spans 5800 hectares along the banks of five expressways. The Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) is overseeing the development of corridors along the Agra-Lucknow Expressway, Purvanchal Expressway, Bundelkhand Expressway, Gorakhpur Link Expressway, and Ganga Expressway.
In particular, the development of the Purvanchal Industrial Corridor is taking place on 1,586 hectares of land across five sites along the Purvanchal Expressway. This project incurs a cost of Rs 2,300 crore. Similarly, along the Ganga Expressway, 11 sites covering 1,522 hectares of land are undergoing development with a budget of Rs 2,300 crore. Along the Bundelkhand Expressway, development is underway on 1,884 hectares of land across six sites, with a budget of Rs 1500 crore. The Agra-Lucknow Expressway is witnessing development on 532 hectares across five sites with a budget of Rs 650 crore. Lastly, along the Gorakhpur Link Expressway, two sites covering 345 hectares of land are undergoing development with a budget of Rs 320 crore.
Bundelkhand Industrial City (BIDA) on the anvil
In the year 2023, with the aim of developing Bundelkhand, plans were made to create another industrial city and promote the development of the region, similar to Noida, near Jhansi. The Bundelkhand Industrial Development Authority (BIDA) is in the process of acquiring land for this city, covering 35,000 acres in 33 villages near Jhansi. Simultaneously, the administrative procedures for the operation of the authority are also underway.
It is hoped that in the year 2024, this project will progress rapidly. The Yogi government has allocated a budget of Rs 5000 crore for the development of this city.
Ashok Leyland to set up E-Bus manufacturing plant
In Lucknow, Ashok Leyland, counted among the country’s largest commercial vehicle manufacturers, is in the process of establishing and developing its E-bus manufacturing plant. It is noteworthy that in the month of September, the company obtained approval from CM Yogi for setting up the plant, and the development was planned on a 70-acre site. As part of the project, it is anticipated that by the Mahakumbh event in 2025, the state government will have 5000 E-buses manufactured at this facility. It is believed that the plant will be fully operational by mid-2024.
Fuji Silvertech Plant
Fuji Silvertech, a company from Japan, entered into an agreement with the Uttar Pradesh government to establish a plant in the state under a significant investment in the year 2023. This was the first company to benefit from the new FDI policy in UP, and it is being provided with 25 acres of land by the Yamuna Expressway Industrial Development Authority. The company specializes in manufacturing large concrete mixer vehicles, and it will develop the plant in the state in three phases. The establishment of this plant is expected to directly provide employment to 700 people.
