In order to transform Uttar Pradesh into a hub of the aviation industry, the Yogi Adityanath government is set to launch a new scheme this month on 1,000 acres of land near Jewar airport.
Under the scheme, assembling and manufacturing units for aeroplane parts as well as entire aeroplanes will be established there. Along with Indian companies, many foreign companies are also eager to set up their units.
Noida International Airport Limited (NIAL) is constructing Asia’s largest airport in Jewar. The aviation manufacturing hub will enable India to not only repair its own aircraft but also provide maintenance and repair services for international aircraft. Previously, India had to send its planes abroad for repairs.
Yamuna Expressway Industrial Development Authority (YEIDA) Chief Executive Officer Arunvir Singh said that the process of acquiring 1,365 hectares of land in the second phase of Noida international airport was going on. This area would be developed as a maintenance repair and overhaul (MRO) and an aviation hub, he added.
He said that Lyal would establish this aviation hub, which would span 1,000 acres and consist of individual units of five acres each. Additionally, larger plots of land would be made available for anchor units. To facilitate this development, an aviation manufacturing scheme would be introduced in the near future. This scheme would encourage aeroplane assembling companies, engine manufacturing firms, nozzle manufacturing companies and other aircraft equipment manufacturing companies to establish their units.
Singh further added, “Numerous companies are eager to invest in this project. Discussions and meetings have already taken place with many companies through the American embassy.”
He said that the UP cabinet recently issued an FDI policy, aiming to provide benefits to foreign companies. According to the FDI policy, foreign companies would receive a 75 per cent land subsidy, capital subsidies of up to Rs 100 crore, a 100 per cent state goods and services tax (SGST) reimbursement for a period of 10 years, and financial support of Rs 5,000 for seven years for up to 500 individuals engaged in patenting, training and skill development.
“Additionally, customs exemptions will be granted for the import of equipment from foreign countries and this is a favourable opportunity for aviation hubs and foreign investment. This policy opens the door for foreign companies to enter the market,” he said.
“The work of making the layout for developing the aviation manufacturing industry at Jewar international airport has been handed over to PwC (PricewaterhouseCoopers). As soon as its layout is prepared, a meeting of the NIAL Board will be called to make decisions regarding the implementation of this scheme. The initiative is expected to generate employment opportunities and fulfill the vision of aviation manufacturing and MRO hub will also be fulfilled,” he added.
