812 investors buy land in Noida to set up companies, expected to create 43,000 jobs
The MSME parks developed in Noida have seen momentum with 812 investors buying land to set up companies that are expected to create almost 43,000 jobs.
Construction of two micro, small, and medium enterprise (MSME) parks near Noida developed by the Yamuna Expressway Industrial Development Authority (YEIDA) has gained momentum with 812 investors buying lands at the proposed sites to set up units at a cost of Rs 2,345 crore, Uttar Pradesh (UP) government officials said on Tuesday.
The proposed companies in these parks — along the Yamuna Expressway in Sectors 29 and 32 — are expected to create employment for almost 43,000 people, the officials said.
These parks are developed to give a boost to the MSME sector.
The development follows UP’s Chief Minister Yogi Adityanath's consent three years ago for setting up the MSME parks in Gautam Buddh Nagar district, to boost micro, small and medium scale industries in the state, officials said.
"The two MSME parks are coming up in YEIDA's Sector 29 and 32 where land has been allotted to 812 investors. A total of 239.61 acres of land has been allotted.
"The investors have invested Rs 2,345.40 crore to set up companies which will have an expected 42,801 employment opportunities," Shailendra Bhatia, nodal officer, YEIDA Investment Cell, told PTI.
He said all the entrepreneurs who have procured land in the park have started construction of their units and factories. They include Swastik Industries, United Logistics, Syria Impex, DR Auto Industries, Rushya Agritech Pvt Ltd, MV Exim Pvt Ltd, Ranexa Medical, Shree Balaji Printing, and Gapdec Infratech Ltd.
Bhatia, also the additional CEO of YEIDA, added that of the allotted 812 land plots, 760 are bigger than 4,000 square metres in area while the rest are smaller than 4,000 square metres.
In a statement, the UP government said there will be a wide variety of companies at the parks making readymade garments, auto parts, food processing and printing units.
"The government will get revenue through GST on the products of these companies," it added.
These parks will provide facilities like business and shopping centres, incubation centres, hotels and restaurants, hostels, office blocks, health and fire stations, along with factories and factory sheds, according to the statement.
They will also have better roads and power and water supply networks. A certification lab will also be set up at the park itself. The parks will also feature storehouses, container and truck terminals, railway siding infrastructure, and fuel stations, it stated.
The MSME parks in Noida will be followed by the establishment of similar parks in Agra, Kanpur, Moradabad, Varanasi, Azamgarh, and Gorakhpur, which boast of the presence of several MSMEs even today, the state government said.
"The parks will herald a new era of development in Uttar Pradesh," it remarked.
According to official statistics, the MSME sector is second only to agriculture in UP in terms of employment generation.
UP's MSME units constitute 14.2 per cent of the total MSMEs in the country and have been exporting goods worth more than Rs 1.14 lakh crore annually for the last three consecutive years, according to the statement.