s the state gears up for the much-anticipated groundbreaking ceremony scheduled for February 19, the abundant land bank readily available for industries has solidified Uttar Pradesh’s position as a prime destination for investors.
A government spokesman emphasised the pivotal role of readily available land in attracting private investment, stating, “As we are readily providing land to the investors, the private players are ready to invest in UP.”
A vast industrial land bank totaling 7,96,764.74 square metres across various authorities, including the Gorakhpur Industrial Development Authority, New Okhla Industrial Development Authority and Greater Noida Industrial Development Authority, has been highlighted as a key factor in Uttar Pradesh’s attractiveness for investors.
“Notably, the Uttar Pradesh State Industrial Development Authority (UPSIDA) alone boasts of 17,05,365.33 square metres of vacant land, while the Uttar Pradesh Defence Industrial Corridor possesses 80,47,200 square metres of land for allocation,” the spokesman added.
In addition to the substantial land reserves, various industrial development authorities have actively allocated plots and made land available for prospective investors.
The Greater Noida Industrial Development Authority has allocated 2,568 plots to industries, with an additional 2,07,924 square metres of land available for allotment.
Similarly, the Noida Industrial Development Authority has allotted 11,162 industrial plots, leaving 1,734.74 square metres of land available for allocation.
Meanwhile, the Gorakhpur Industrial Development Authority has allotted 981 plots to industrial units, with 5,87,106 square metres available for allotment. Additionally, the Yamuna Expressway Industrial Development Authority has allotted 261 plots to industries during the 2022-23 and 2023-24 financial years.
“In a bid to enhance transparency and accessibility for investors, all industrial development authorities have been diligently uploading comprehensive data on vacant plots on the Nivesh Sarathi portal. This initiative ensures that potential investors have seamless access to crucial information, facilitating informed decision-making,” the spokesman elaborated.
Highlighting a significant policy move, the Uttar Pradesh government has introduced a policy to provide subsidised land to Fortune Global 500 and Fortune India 500 companies.
Under the newly unveiled ‘UP FDI, Fortune Global 500 & Fortune India 500 Companies Investment Promotion Policy 2023’, eligible projects with a capital investment exceeding Rs 100 crore can benefit from incentives, including subsidised land allotment. Industrial development authorities are offering a 25 per cent subsidy in Pashchimanchal and Madhyanchal, and 20 per cent in Bundelkhand and Purvanchal, along with 100 per cent exemption or reimbursement of stamp duty and registration fees.
“The convergence of abundant land availability and investor-friendly policies underscores Uttar Pradesh’s proactive approach towards industrial development and augurs well for the economic future of the state,” the official said.
