Two MSME parks’ construction near Noida gains momentum; see ?2,345 crore investment
The parks will create employment for 43,000 people
Construction of two micro, small and medium enterprise (MSME) parks near Noida has gained momentum with 812 investors buying lands at the proposed sites to set up units at a cost of ?2,345 crore, Uttar Pradesh government officials said on Tuesday.
The proposed companies in these parks- coming up along the Yamuna Expressway in Sectors 29 and 32- are expected to create employment for almost 43,000 people, the officials said.
The parks are being developed by the Yamuna Expressway Industrial Development Authority (YEIDA) as a model to boost the MSME sector, they said.
The development follows Uttar Pradesh 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, the officials said.
"The two MSME parks are coming up in YEIDA's Sectors 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 ?2,345.40 crore to set up companies which will have an expected 42,801 employment opportunities," said Shailendra Bhatia, nodal officer, YEIDA Investment Cell.
Bhatia, also the additional CEO of YEIDA, added that of the allotted 812 land plots, 760 are bigger than 4,000 square metre in area while the rest smaller than 4,000 square metre.
He said all the entrepreneurs who have procured land in the park have started construction of their units and major companies have started building their factories. They include Swastik Industries, United Logistics, Syria Impex, DR Auto Industries, Ranexa Medical, Shree Balaji Printing, and Gapdec Infratech Ltd.
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.
The MSME parks will provide facilities like business and shopping centres, incubation centres, hotels and restaurants, hostels, office blocks, health and fire stations, according to the statement. A certification lab will also be set up. The parks will also feature storehouses, container and truck terminals, railway siding infrastructure, and fuel stations, it stated.
These parks will be followed by establishment of similar parks in Agra, Kanpur, Moradabad, Varanasi, Azamgarh and Gorakhpur, which boast of 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 ?1.14 lakh crore annually for the last three consecutive years, according to the statement.