Lucknow, Jul 9 (IANS): The Yamuna Expressway Industrial Development Authority (YEIDA) area is set to emerge as a major industrial hub of India in the coming years, given the amount of interest it is generating among industrialists from both within the country and abroad.
About 1,564 industrialists are making an investment of about Rs 16,523.83 crore to establish their units in YEIDA area, which will provide employment for 2,60,413 people.
This is for the first time that YEIDA has attracted such a huge investment. The investors have already started construction of their firms and some of the units are on the verge of completion as well.
For example, Vivo has almost set up its factory for manufacturing mobile phones in Sector 24 of YEIDA and the production is likely to start in the next four to six months.
Similarly, Yingtong Electronic Technology's unit for manufacturing mobile phone accessories is almost ready in Sector 24.
Apart from this, many companies like Surya Global Flexi Pvt Ltd, Haldiram Snacks Pvt Ltd, Holistic India Kent RO, Orient Fashion Export, Bodycare International are setting up their units in YEIDA.
The state government's investor-friendly initiatives have not only improved UP's ranking in ease of doing business, which has jumped to number two in the country from an abysmal 12 in the last four years, but have also boosted investors' confidence.
According to the government spokesman, the number of investors in YEIDA area could go further up remarkably with the beginning of construction of Jewar International Airport.
Experts believe that the airport will attract the biggest investors of the world and YEIDA, leaving other industrial development authorities in the state far behind in terms of investments.
Industrial development officials said that altogether 3,908 big investors have acquired industrial plots to set up their units in UP in the last four years of the Yogi Adityanath government at the cost of Rs 61,330.98 crore, of which the highest 1564 units are to be set up in YEIDA area.
Besides, 1035 units will be set up in UPCIDA, 864 units in Noida Development Authority, 345 units in Greater Noida and 118 units in GIDA.
Meanwhile, prominent among the companies that have been allotted land to set up their units in YEIDA area include Ishi Technology, Dev Pharmacy, Kwality Buildcon, Matend Limited, Raj Corporation, Galvano India Private Limited, Bikaner, Quadrant, Swastik Industries and Narsee Monji University.
There are plans to develop a handicraft park, an apparel park, a MSME park and a toy city also in YEIDA.
Another reason why industrial development has gained momentum in YEIDA is the construction of Jewar Airport, which will be the biggest international airport in Asia as per plans.
Work is underway on many big projects including Film City, Raya Heritage City and Tappal Logistic Hub, which are expected to get off the ground by 2023-24. With their completion, YEIDA would become known worldwide as a major industrial city.