Faced with creaking infrastructure in its industrial enclaves across the state, Uttar Pradesh State Industrial Development Corporation (UPSIDC) is mulling to raise funds from external agencies, including the World Bank.
According to an estimate, the Corporation would require almost Rs 1,500 crore to put its house in order and upgrade infrastructure facilities, including roads, sewage, lighting, water etc in its enclaves.
Addressing a conference of Industrial United Development Foundation (IUDF) here on Friday, UPSIDC Chairman Alok Ranjan said the matter was being discussed and soon the process of zeroing in on the most suitable funding route would start rolling.
“We could go for external funding, including the World Bank, to raise the required funds,” he said and conceded that the infrastructure facilities at UPSIDC enclaves were indeed lacking and required urgent steps.
Ranjan is also the advisor to UP chief minister Akhilesh Yadav and holds the rank of a state cabinet minister.
He further said the Corporation would soon implement measures to ensure timely issuance of clearances, apart from making its processes transparent and online.
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“Before the state solicits investment from outside, we must first address the grievances of the industries based in UP,” he noted adding industrialists were the best brand ambassadors for attracting investment.
Meanwhile, Lucknow-based industrialist Prashant Bhatia urged UPSIDC to allow easy conversion of leasehold industrial plots to freehold. “This would result in better utilisation of these plots, curb corruption and bring in more revenue to exchequer.”
UPSIDC provides land under lease to manufacturers. Industry has long been demanding relaxation of lease terms, sale of land to original lease holders etc to boost small and medium industrial units.
Besides, he raised the issue of poor law and order, while urging the state government to issue arms licenses to traders facing threats from criminals and extortionists.
The common grouse of industrialists was that while the government had framed forward looking laws, the same had not translated on the ground due to lack of coordination amongst departments and official apathy.
UPSIDC is mandated for the development of industrial areas in the state. Since inception in 1961, UPSIDC has developed nearly 159 industrial areas (including undivided Uttarakhand) and 23 residential areas spanning about 20,000 hectares.
UPSIDC has facilitated setting up about 8,200 industrial units in the state with capital outlay of over Rs 15,000 crore. However, the Corporation has failed to keep up with changing times and ramp up infrastructure in these hubs.