The Uttar Pradesh Cabinet chaired by Chief Minister Yogi Adityanath today gave its approval to the state's UP Defence, Aerospace Unit and Employment Promotion Policy, 2018 while also paving the way for the construction of a defence industrial corridor, an official statement released here said.
In February, during the UP Investors Summit, Prime Minister Narendra Modi announced that a Defence Industrial Corridor will be established.
In an official statement here today, a UP government spokesperson said, "The Defence Industrial Corridor has the potential to attract investment worth Rs 50,000 crore and create 2.5 lakh job avenues in the next five years. For the corridor, in Bundelkhand, almost 3,000 hectare land has been identified by UP Expressways Industrial Development Authority, and there acquisition is proposed."