Noida attracting large number of investors

| | Lucknow
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Noida attracting large number of investors

Tuesday, 27 July 2021 | PNS | Lucknow

Established on April 17, 1976, on the border of Uttar Pradesh and Delhi, the New Okhla Industrial Development Authority (Noida) of Gautam Buddha Nagar district has been attracting investors from both within the country and abroad since its inception. During the last four years of the Yogi Adityanath government, Noida has witnessed the most rapid development in 45 years of its existence.

Officials claimed that as many as 855 big investors based in India and abroad are setting up their ventures in Noida at a cost of Rs 20,560 crore and industrialists have been allotted plots by the development authority to set up their units, which will provide employment to 1.47 lakh people. Prominent among the investors are Samsung, Paytm, TCS, Microsoft, Adani Group, Kent RO and Haldiram's.

With the construction of Jewar airport in progress, the number of investors setting up their firms in Yamuna Expressway Industrial Development Authority (YEIDA) will increase exponentially in coming days. According to the officials, all the 855 investors who have acquired industrial plots in Noida have already started construction of their units while some of these units have been completed and have become operational as well.

Samsung has set up a mobile display unit at a cost of Rs 4,826 crore in Noida that employs 2,500 people. Similarly, Paytm has set up its own venture with an investment of Rs 302 crore that has provided jobs to 15,000 people. Besides, in the information technology (IT) sector, TCS and the Motherson Group have invested Rs 2,300 crore and Rs 47 crore, respectively, in Noida. The Adani Group has also acquired 39,146 acres of land to set up a firm at a cost of Rs 2,500 crore in the data processing sector. Multinational company, Microsoft, has got 60,000 acres of land to set up a unit at a cost of Rs 1,000 crore in the IT sector. INGKA Company has purchased 47,833 acres of land to invest Rs 5,500 crore in the property business.

Besides, Westway Electronics, Dixon Technology, Vivotex Project, Roto Pumps Ltd., Agarwal Associates, Neptune Systems, Adverb Technology, Surabhi Group, Ikea Solutions, Yun Flex Ltd., Kent RO have also acquired plots of land in Noida to start their business ventures.

Since its inception in 1976, more than 10,200 industrial units have been established in Noida thereby providing employment to more than eight lakh people. There are more than 2,000 call centres in Noida. The per capita income of Noida is more than ten times the per capita income of the state. Against the state average of Rs 66,512, Noida’s per capita i

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