UP plans MEGA investment event, aims to attract big investors near Noida Airport

The Uttar Pradesh government is preparing to host a major Ground Breaking Ceremony this November, aiming to bring investment proposals worth Rs 5 lakh crore into action. The programme is part of the government’s larger plan to turn big investment promises into reality on the ground.

As part of this, Invest UP, the state's investment promotion agency, has reached out to the Yamuna Expressway Industrial Development Authority (YEIDA) to provide detailed information about the availability of industrial land, infrastructure, current allotment rates, and the relevant policies in place. The focus is mainly on the area around Noida International Airport, which is being developed as a major industrial and investment hub. So far, 57 investment proposals have been sent to YEIDA through Invest UP. However, only three of those proposals have received land allotments to begin implementation. In addition, letters of intent have been issued for ten more proposals, but most remain pending.

A meeting was held on Monday between Shashank Chaudhary, Additional CEO of Invest UP, and senior officials of YEIDA, including ACEO Nagendra Pratap Singh, Kapil Singh, and representatives from the Industries Department. They discussed the status of the industrial sectors near the airport, availability of plots, progress of land possession by companies, and the ongoing work related to land acquisition for new industrial zones. Chaudhary urged YEIDA officials to speed up land allocation to reputed national and international companies. He emphasised that attracting renowned firms would enhance YEIDA’s global image and create momentum for industrial growth.

He also stressed on accelerating land acquisition to ensure that companies investing in the state receive land based on their specific needs and the size of their investment. At the Global Investor Summit 2023, investment contracts worth over Rs 34 lakh crore were signed across Uttar Pradesh. Out of this, YEIDA alone received contracts worth over RS 1.26 lakh crore. However, only a small fraction of these projects have made it to the ground level so far, pointing to a gap between promise and progress.

The upcoming ceremony is expected to give a much-needed push to actual development, with the government now focused on ensuring infrastructure and land support for investors.