Uptick in MSME loans in UPUP industrial sector

Virendra Singh Rawat / Lucknow

Looking to boost the labour and capital intensive manufacturing sector, the Uttar Pradesh government has announced to auction 152 industrial plots across the state.

The auctioning and bidding process would be conducted by UP State Industrial Development Authority (UPSIDA). These plots are situated in Jhansi, Hardoi, Mathura, Amethi, Ghaziabad, Mau, Kanpur Dehat, Jalaun and Hamirpur districts.

According to the state government, the auction process has started and the interested companies could download the bidding documents till Feb 9.

According to UPSIDA CEO Mayur Maheshwari, while bids could be placed till Feb 13, the auctioning would be done on Feb 21.

Interesting, the auction process has been announced ahead of the big ticket UP Global Investors Summit 2023 scheduled for three days during Feb 10-12 in Lucknow. The state is targetting to net private investment of Rs 1.7 trillion.

Signalling the growth of new industrial hubs, the tier II and III towns in UP over the past two years have netted investment of Rs 11,000 crore in different projects.

While investment of Rs 7,000 crore was received in smaller towns, UPSIDA enclaves have clocked investment of Rs 4,000 crore in the last 6-7 months. Big projects of Pepsi, British Paints, Berger Paints, ITC Limited and Webley & Scott have set up their units on industrial land provided by the UPSIDA.

In fact, UPSIDA has an inventory of industrial plots of 12,000 acres in Bareilly, Hathras, Agra, Mathura, Farrukhabad, Auraiya, Kannauj, Unnao, Hardoi, Sandila, Chitrakoot, Prayagraj, Rae Bareli, Amethi and Pilibhit.

The Yogi Adityanath government is targetting to make UP a $trillion economy by 2027 through speedier industrial development and boosting exports.

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The state is promoting investment in comparatively backward regions of Purvanchal (Eastern UP), Bundelkhand and Madhyanchal (Central UP) for job creation and ensuring a balanced socioeconomic growth.

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