 "UP Investment, construction")
The Uttar Pradesh government has kicked off the process to acquire land for allotment to industry after the state garnered investment proposals worth nearly Rs 34 trillion at Uttar Pradesh Global Investors Summit (GIS) 2023.
UPSIDA Chief Executive Officer Mayur Maheshwari has written to all district magistrates seeking information regarding ‘gram sabha’ land and the effective circle rate under their jurisdiction. “The gram sabha land would be acquired in the vicinity of expressways, apart from national and state highways, for developing greenfield industrial areas and hubs,” said a person aware of the matter.
The UP State Industrial Development Authority (UPSIDA) is looking to buy about 7,000 acres of land in Phase I to add to its existing inventory of 15,000 acres. This would take the available industrial-grade land to 22,000 acres.
Meanwhile, the authority has urged the state government to unlock land held by sick state and semi-state government industrial units, including spinning mills, for fresh allotment. UPSIDA has also started the process of auctioning the available land to private investors.
The state has an estimated requirement of 30,000 acres of land to cater to the over 19,000 GIS projects.
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UPSIDA had signed 512 memoranda of understanding (MoUs) worth more than Rs 3.15 trillion with investors. The maximum investment proposals came for the Western UP region, which accounted for 60 per cent of total intents received by the authority.
The composite UPSIDA investment intents are expected to generate 879,000 jobs across different sectors and geographies with private industrial parks estimated to create the maximum jobs, about 300,000 jobs through 67 projects.
Eastern UP (Purvanchal) and Central UP (Madhyanchal) generated projects worth 25 per cent and 13 per cent respectively. UP’s Bundelkhand region settled for 14 projects totalling Rs 11,468 crore.
Kanpur, Lucknow, Ghaziabad, Ayodhya, and Agra districts figured as the preferred places for investment in different categories.
Meanwhile, the logistics and warehousing sector emerged chart topper in the Ultra Mega and Super Mega investment categories for UPSIDA. The sector received 28 intents worth Rs 87,500 crore, including Rs 67,500 crore and Rs 20,000 crore in Ultra Mega and Super Mega categories, respectively.
