look news india
Lucknow, July 30 (HS). To encourage manufacturing in Uttar Pradesh and make the state a one trillion dollar economy, Uttar Pradesh Government's Industrial Development Minister Nand Gopal Gupta Nandi on Tuesday introduced the UP Nodal Investment Region Manufacturing (Construction) Area Bill-2024 in the Assembly.
Minister Nandi said that the objective of the Uttar Pradesh Nodal Investment Region Manufacturing (Construction) Area Bill 2024 is to establish the state as a large-scale export-oriented cluster for the purpose of attracting investment and to create employment and other related benefits, which will ensure rapid economic development. The Construction Board will be constituted today under the chairmanship of the Chief Minister. Whose Vice President will be the Industrial Development Minister.
Along with this, a construction area committee will be constituted under the chairmanship of IIDC, whose job will be to approve the master plan prepared by the construction area authority. The construction area authority will include a CEO and minimum two ACEOs, representatives of the Industry Department and Pollution Control Board and related members of other departments along with other government and non-government members as per the need. The construction area will be outside the jurisdiction of the local authority. The process of land acquisition in these areas will be ensured by the Land Acquisition Act 2013.
By setting up manufacturing zones, special clusters focused on specific industries and sectors will be established in the state. This will increase productivity, innovation and competitiveness. These clusters will attract domestic and foreign investment as well as skilled talent. This will create an ecosystem of resources and expertise that will be conducive to business growth and development. The state government will make the first contribution of Rs 500 crore for the revolving fund to be set up by each manufacturing zone authority. Promoting export-oriented industries within manufacturing zones will not only create employment, but will also increase the state's gross domestic product. This will help the state become a major stakeholder in the global market and establish Uttar Pradesh as a global manufacturing hub.
Through this, large-scale investment regions will be established, operated, regulated and managed in the state. Along with promoting industrial development and attracting new investments by global investors, ease of doing business will also be ensured. For this, four special investment regions will be developed in the state – Western SIR-Aligarh, Madhyanchal SIR-Unnao, Purvanchal SIR-Prayagraj and Chitrakoot, Bundelkhand SIR-Jhansi – to ensure balanced economic development in the entire state.