Thanks to the tremendous efforts of the Modi government, Noida has emerged as the preferred choice for the domestic as well as foreign industries for setting up new factories and offices. A few days ago, 13 companies including Adani enterprises and Dixon technologies were allotted industrial plots in the city.
“The Noida Authority expects to earn Rs 344 crore in revenue from these allotments which will bring an investment of Rs 3,870 crore in Noida region and 48,512 jobs,” said a statement by Noida authority.
Agarwal Associates, Weavetex Projects, Equine Tech Nutri Care LLP, RAF Manufacturing Company, Roto Pumps, KK Fragrances, Savi Leathers, Mithaas Sweets and Restaurants, Adoratex, Westway Electronics and Dhampure Alco Chem are the other players that have been allotted land.
Noida has risen exponentially on the city index of the country, riding on Information Technology enabled services and media businesses, which are flocking in the city given its efficient administration and world-class infrastructure.
As per Census 2011, the population of major UP’s cities such as Agra, Meerut and Lucknow increased by 20 per cent- corresponding to the state’s population growth- compared to 2001, while that of Kanpur – which used to the financial capital of UP but declined in stature in the last few decades – declined by 9 per cent. On the other hand, the population of Noida increased by 40 per cent.
The Yogi Adityanath government is aggressively pitching Noida as the industrial and service sector hub of North India and a symbol of the new Indian economy. “The Uttar Pradesh government is planning to promote Noida, Greater Noida, and Yamuna Expressway as electronic manufacturing zone. Country-specific industrial parks will be set up, which will virtually act as a home away from home for the foreign companies,” Additional Chief Secretary (IT and Electronics) Sanjiv Saran said, back in April 2018.
Since then, many other projects and facilities including the airport, textile hub, tech hub and a film city have been announced. “The proposed Jewar International Airport in Noida will be the biggest in North India. The Kushinagar airport is also coming up, which will cater to eastern UP. Besides, Noida will be developed as the biggest hub of Northern India,” said Yogi Adityanath a few weeks ago in the ‘Invest UP’ meet.
The government has already earmarked 77 acres of land for the Noida textile hub and expects an investment of 900 crore rupees. Apart from textile, electronics manufacturing, film city and many other new sectors, even the existing IT companies are expanding their campuses in Noida and many International companies including Microsoft have announced campuses in the city in the last few months.
A few weeks ago, IKEA, which has the same brand value in the global furniture industry as the iPhone in the global smartphone industry, announced to set up its first furniture shopping centre in Noida, Uttar Pradesh. The company said that it will invest 5,500 crore rupees in the financial capital of Uttar Pradesh to open the shopping centre. The Swedish giant has already bought a 48,000 square meter plot in the outskirts of the city to set up the centre.
Moreover, due to reservation for locals in Haryana after the Khattar government’s Labour regulation bill, many companies that have established offices and factories in Gurugram (like the automobile industry, textile industry) are considering shifting to Noida due to cheaper office prices and better governance.
The city of Noida is emerging as the most attractive business destination in the country, thanks to the pro-industry environment and various incentives being provided by the Yogi government.