Domestic And Foreign MNCS Line Up Investments Worth Rs. 45,000 Crores In Uttar Pradesh

Invest in Uttar Pradesh

The Uttar Pradesh Government has attracted more than 40 investments from many national and international companies from around 10 countries such as Japan, US, UK, Canada, Germany, South Korea, etc of around Rs 45,000 Crores.

The Industrial Development Authorities have allotted nearly 426 acres of land (326 plots) for projects and employment generation potential of nearly 1,35,362 will be created. This includes allotment to major investors such as Hiranandani Group, Surya Global, Hindustan Unilever, MG Capsules, Kesha Packaging Mountain View Technologies, etc

One of the major reforms is done by the Government was the implementation of one of India’s largest digital single-window portal Nivesh Mitra, providing around 166 services to the entrepreneurs. With an average NOC application disposal rate of 93%, the Nivesh Mitra portal has successfully achieved an outstanding query resolution rate of 98%.

This includes concrete investments from the following organisations:

  1. Rs 750 crores of investments in data centre by Hiranandani Group
  2.  Rs. 300 crores of investments in setting up integrated food processing unit by Britannia Industries Ltd.
  3. Rs 750 crores of investments in yeast manufacturing by Associated British Food Plc (AB Mauri) (UK)
  4. Rs. 200 crores of investments in consumer electronics by Dixon Technologies
  5. Rs. 300 crores of investments in footwear manufacturing by Von Wellix (Germany)
  6. Rs. 953 crores of investments in POPP. BOPET, Metalized Films Production Plant by Surya Global Flexi Films Pvt Ltd
  7. Rs: 200 crores of investments in software development by Mag Software (US)
  8. Rs. 746 crores of investments in grain Infrastructure equipment by Ekagrata Inc. (Canada)
  9. Rs 750 crores of investments in Electric Vehicles by Edison Motors (South Korea)
  10. Rs. 2,000 crores of investments in Wiring harness and components by Yazaki (Japan)

The State implemented record 186 reforms spread across multiple areas such as Labour regulation, Inspection regulations, Land allotment Property registration. Environment clearances, Paying taxes, and many others. In order to reduce the regulatory burden in the state, UP has started an exercise to Identify licenses/NOCs in terms of Renewals, Inspections, and Registers & Records: Filings/Returns, Display Requirements. In this regard, so far 80 such compliances have been identified across 15 departments out of which 52 such compliances have already been simplified.

A clear indication of the remarkable progress done by the state on ensuring the ease of doing business in the state is the quantum jump in the State’s ranking in the recently announced Business Reform Action Plan ranking of states by DPIIT. Government of India Uttar Pradesh bagged the 2-position – a jump of 12 positions in the last 3 years.

The State Government has identified around 22,000 acres of land along Expressways for industrial development. Out of these identified land, six high potential locations have been identified at Firozabad, Agra, Unnao, Chitrakoot. Mainpuri and Barabanki districts for the establishment of industrial parks through various development models.

The State Government has renewed its focus to promote new industries as well such as Bulk Drug & Medical Device manufacturing – for which the State Government is pursuing with the Government of India for the development of dedicated Industrial parks Sectors like Logistics, Defence, Data Centre, etc. are also largely gaining momentum. The State Government is quickly adapting to new market trends and focusing to tap new opportunities

The upcoming Jewar International Airport in Greater Noida spread over 5,000 hectares of land will be one of the largest airports in Northern India. With the airport, projects like MRO/ Cargo complex and aerotropolis are likely to come up. Besides, MSME park. Electronics Park. Apparel park. Handicraft park and Toy park are also proposed in the region. The State Government has recently announced a film city of over 1,000-acre plot located just about 6 km from the proposed Jewar International Airport. These schemes are expected to bring investment worth Rs 40,000 er and around 2.5-3.0 Lakh employment.

A dedicated agency. – Invest UP’ has been recently established for facilitating and handholding investors. Invest UP has been mandated to carry out both the activities to provide complete investment life cycle support to the investors To facilitate various new investment intents, the State Government has created a dedicated helpdesk within Invest UP to handheld leads including those from foreign countries.

About Neel Achary 18968 Articles
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.