Lucknow, Feb 15 (SocialNews.XYZ) Nearly 34 investment projects worth Rs 3,585.85 crore are ready to be included in the upcoming groundbreaking ceremony (GBC) in Uttar Pradesh.
The Uttar Pradesh Defence Industrial Corridor (UPDIC) is attracting major investments and demonstrating commitment to make India ‘Atmanirbhar’ (self-reliant) in the defence and aerospace sector.
So far, the sector has attracted 114 investment intents with a proposed investment of Rs 24,510.60 crore and potential employment generation of 41,667.
These projects are spread across Aligarh, Jhansi, Kanpur and Lucknow nodes of the defence industrial corridor and would generate over 8,530 employment opportunities.
Among major companies, which have proposed investment in defence industrial corridor, include BrahMos Aerospace and Areolloy Technologies at Lucknow, Bharat Dynamics Ltd, Armoured Vehicles Nigam Ltd, Tata Technologies Ltd, Global Engineers Ltd and WB Electronics India Ltd at Jhansi, Adani Defence Systems & Technologies Ltd, Ananth Technologies and Genser Aerospace at Kanpur, Anchor Research Labs LLP and Amitec Electronics at Aligarh.
These investors have either established their units or are in the process of implementing their projects.
It may be recalled that the establishment of Uttar Pradesh Defence Industrial Corridor was announced in February 2018 by the Prime Minister. The state government also moved fast in acquiring greenfield land parcels at Agra, Aligarh Chitrakoot, Jhansi, Kanpur, and Lucknow nodes, creating a land bank of in Phase-I.
The Government of Uttar Pradesh is investing in developing basic infrastructure across nodes, creating a conducive environment for investors. IIT Kanpur and IIT (BHU) Varanasi have been nominated as the Centres of Excellence, conducting research and filling critical R&D gaps.
The Ministry of Defence, Government of India has launched the Defence Testing Infrastructure Scheme with an outlay of Rs 400 crore for creating state of the art testing infrastructure in partnership with the private industries.
A grant-in-aid of Rs 117.06 crore has been approved by Ministry of Defence, Government of India for establishing three defence testing facilities in Kanpur and Lucknow.
UP Defence Industrial Corridor has collaborated with financial institutions to offer customized loans and cater to the specific needs of MSMEs and startups in the defence and aerospace sector.
The current surge in investment and investors aligns with the government's indigenisation policy, emphasizing the manufacturing of 509 items on the positive list and 4,666 Line-Replaceable Units that will be compulsorily manufactured in India, translating into a total home-grown business of Rs 1,75,000 crore.
UP Defence Industrial Corridor is transforming Uttar Pradesh into a major hub for defence and aerospace manufacturing, contributing to India's self-reliance and economic growth. The Yogi government's commitment to creating a supportive ecosystem and fostering innovation is attracting leading players and propelling the corridor's success.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz