Uptick in MSME loans in UPUP industrial sector

Virendra Singh Rawat

In the backdrop of its ambitious $trillion economy target, Uttar Pradesh is ramping up its industrial land bank across the state.

UP State Industrial Development Authority (UPSIDA) is looking to acquire almost 7,000 acres to add to its existing inventory of 15,000 acres. This would increase its industrial land kitty to 22,000 acres.

In this context, the state is planning to acquire the land assets of defunct textile mills for fresh allotment to industry.

Nearly 1,000 acres are locked in these sick textile and yarn units owned by state owned entities including UP Cooperative Spinning Mills Federation, UP State Textile Corporation Limited, UP State Spinning Company Limited and UP State Yarn Company Limited.

They are located in Meerut, Hardoi, Jhansi, Prayagraj, Banda, Ballia, Mau, Rae Bareli, Barabanki, Amroha, Bareilly, Ghazipur, Fatehpur, Farrukhabad, Sitapur, Bijnor, Sant Kabirnagar and Bulandshahr districts.

They reportedly owe liabilities of nearly Rs 3,000 crore. Earlier, UP industrial development minister Nand Gopal Gupta Nandi had announced the state’s intention to unlock the land of defunct mills for fresh allotment after settling their liabilities.

Since, the UP government is bracing up for a mega groundbreaking ceremony to launch projects worth almost Rs 10 trillion, the clamour for industrial grade land is growing up.

The big development authorities viz. UP State Industrial Development Authority (UPSIDA), Noida, Greater Noida and Yamuna Expressway Industrial Development Authority (YEIDA) are mandated for arranging industrial land.

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Moreover, other development authorities such as UP Housing Board also amass land for allotment to industry depending upon demand.

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