Rs. 11,000 crore (US$ 1.39 billion) investments lined up to create industrial hubs in UP

More than Rs. 11,000 crore (US$ 1.39 billion) has been invested in Tier-II and Tier-III towns in Uttar Pradesh over the last two years for a variety of projects, indicating the creation of new industrial centres.

While the state government has been improving infrastructure in smaller towns and rural areas, the private sector is looking into investment opportunities outside of the main industrial hubs since land is more affordable and there are more incentives.

According to officials, although investments of Rs. 7,000 crore (US$ 883 million) have been made in various industrial projects in smaller towns, Rs. 4,000 crore (US$ 504.57 million) have been invested in the enclaves of the UP State Industrial Development Authority (UPSIDA) in the last six months.

The many incentives included in the state industrial development programme, along with an improved attitude on the part of the bureaucracy toward industrial initiatives, are starting to pay off. On industrial property supplied by the UPSIDA, for instance, flagship projects of Pepsi, British Paints, Berger Paints, ITC, and Webley & Scott have established their facilities.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.