Uttar Pradesh, to boost the availability of the industrial land, is ramping up the inventory of an industrial land bank. The total size of the inventory of the land bank is estimated to be 1,500 acres. The task has to be accomplished ahead of the Global Investors’ Summit in January 2023.
The state government has set a target of attracting private investments of Rs 10 lakh crore at the January 2023 event. The state government will showcase a proverbial ‘ready to allot’ menu of industrial land to woo domestic and global investors. To increase the availability of industrial grade property, the state agencies will not only acquire new land but will also utilise the expansive plots from defunct industrial units, such as closed industrial units and defunct textile mills.
According to the Industrial Development Department, the government will utilise the swathes of defunct textile mills for fresh allotment to investors. The government has decided to settle all outstanding dues of such defunct mills before formally acquiring the land for re-allotment to fresh investors.
These defunct mills are located in Meerut, Hardoi, Jhansi, Prayagraj, Banda, Ballia, Mau, Rae Bareli, Barabanki, Amroha, Bareilly, Ghazipur, Fatehpur, Farrukhabad, Sitapur, Bijnor, Sant Kabir Nagar, and Bulandshahr districts.
At the same time, the government is acquiring land in the vicinity of expressway projects for an array of proposed industrial corridors and parks, including toy park, medical devices park, film city, electronic city, etc.
Such land acquisition is primarily undertaken by four major industrial enclaves — UP State Industrial Development Authority, Noida, Greater Noida and Yamuna Expressway Industrial Development Authority. Earlier, the state government had said it was looking to create a robust industrial land bank of almost 22,000 acres by acquiring swathes within one kilometre of the expressways.