UP Defence Industrial Corridor Gets A Big Boost! State Govt Allots Land in Lucknow & Jhansi for The Project
The UP Defence Industrial Corridor has got a big boost as the state government has allotted land in the state capital to BrahMos Aerospace and in Jhansi to Bharat Dynamics Limited under the Defence Corridor project of the Centre. On February 21, 2018, PM Narendra Modi had announced ₹20,000 crore Defence Industrial Corridor in Bundelkhand region, which is one of the most backward regions in the state. The Defence Industrial Corridor is expected to generate more than one lakh jobs. The corridor has six nodes, including Aligarh, Agra, Jhansi, Chitrakoot, Kanpur and Lucknow.
The UP Expressways Industrial Development Authority (UPEIDA) will execute the project. Since the Bundelkhand region is a drought hit and drought prone zone, the Yogi government has offered capital subsidy for such industrialists who are willing to invest up to ₹10 crore. This is going to be a big boon to UP as well, as the UP Defence Industrial Corridor will not only revive the PSU base, but also mobilize the vast SME ecosystem in the state. Cumulatively, around 2.5 lakh employment and a total investment of ₹50,000 crore are expected through it. Yogi Adityanath Govt to Give Free Tablets, Smartphones to Youth in the Urban and Rural Areas in UP.
According to the state government, the UP Defence Industrial Corridor has been planned over 5,000 hectare of which 1,445 hectare has been acquired. All available land in the Aligarh node has been allotted to 19 companies, which are expected to invest around ₹ 1,245 crore. In fact, besides creating 20 sectoral policies to promote investment under sectors such as energy, logistics and food processing, the UP government had acquired large tracts of land under a land bank which is being made available to investors without wasting time. No-Dowry Affidavit: UP Govt Seeks Affidavit from Public Servants Declaring No Dowry was Taken By Them.
The Bharat Dynamics Limited is a government of India enterprise which manufactures guided missile system and allied equipment for the armed forces, whereas the BrahMos Aerospace is a joint venture of the Indian and the Russian governments for manufacturing BrahMos missiles. The state government held an investors’ summit in 2018 and 43% of the leads generated at that point of time, worth nearly ₹ 1.84 lakh crore of investment, are under active stages of implementation. 218 projects worth ₹ 51,923 crore have started commercial production while 130 projects worth ₹ 37,376 crore are under implementation.
With UP already at the second position in ease of doing business, the single window portal Nivesh Mitra, which is offering more than 340 services of 27 departments to investors through a single window, has helped in working on a leather park is coming up in Unnao, and a logistic hub and heritage city being set up next to the Yamuna Expressway.
(The above story first appeared on Today News 24 on Nov 10, 2021 06:22 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
