Beyond Noida: Yogi govt identifying 37,500 acres for industrial development

File photo: Uttar Pradesh Chief Minister Yogi Aditiyanath
Ahead of the proposed global investors summit in Lucknow next year, the Yogi Adityanath government in Uttar Pradesh (UP) is down to basics to spur industrial development beyond the Noida and Ghaziabad belts.

The state government has started the process of identifying about 37,500 acres land across the state for industrial development. The summit is proposed to be held in the state capital on February 21 and 22 to showcase Uttar Pradesh as an ideal investment destination.

The government is identifying 500 acres of land in each of the 75 districts, which could be readily allocated to the private companies taking part in the summit and evincing interest in setting up big industrial units in the state.

UP chief secretary Rajive Kumar has sent a missive to all district magistrates to identify suitable land parcels in their districts.

“We have been working on meeting the expectations of industry with regards to infrastructure development, land bank and converting industrial land leasehold to freehold,” state industrial development minister Satish Mahana told Business Standard.

He said the land would be identified in every district, including the Bundelkhand region.

However, the identified land parcels need to have proper approach roads, grid power supply and drainage systems. The land should ideally be non-agricultural and cheaper in market value, the chief secretary’s letter said.

The Yogi government had earlier announced to create about 5,000 acres of land banks under different development authorities, including Greater Noida, Lucknow Industrial Development Authority (LIDA), Yamuna Expressway.

Besides, the government plans to develop 2,500 acres of land flanking the Agra-Lucknow Expressway as industrial hubs to boost economic activities.

The lack of proper industrial land bank has always been a major impediment for the proliferation of industry in UP, which over successive regimes struggled to attract private sector beyond the periphery of the National Capital Region (NCR).

Entrepreneurs have long been demanding the successive state governments for suitable industrial plots at competitive rates for viable expansion of their businesses.

Meanwhile, Yogi would chair a high-level meeting here on Saturday of various committees formed to ensure the success of the summit. A working committee comprising 33 members has been constituted under infrastructure and industrial development commissioner (IIDC) Anup Chandra Pandey for drafting the roadmap of the summit, coordinating with industries/investors and the various foreign countries for participation in the event.

The government would especially make a pitch for defence manufacturing at the summit. About 5,000 business delegates, industrialists and investors are expected to participate in the mega event.

President Ram Nath Kovind, Prime Minister (PM) Narendra Modi, PMs of Mauritius and Nepal, apart from the ambassadors of foreign countries would be invited to the two-day high octane summit.

The Yogi government is targetting to sign a memorandum of understanding (MoU) worth almost Rs 50,000 crore with Indian and foreign companies at the summit across sectors.

During the earlier Mayawati and Akhilesh Yadav regimes, MoUs worth over Rs 50,000 crore were signed, however, most of the proposals never took off due to sloppy follow-ups, policy flip-flops and perception of bad law and order.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel