8 new projects have been approved to boost the logistics and warehousing sector in Uttar Pradesh. The investment of ₹800 crore will strengthen the infrastructure, provide better facilities to farmers and create new employment opportunities.
Lucknow. Under the leadership of Chief Minister Yogi Adityanath, the Uttar Pradesh government is working rapidly towards making the state a $1 trillion economy. Keeping this goal in mind, Uttar Pradesh State Industrial Development Authority (UPCIDA) has approved 8 new projects to strengthen the logistics and warehousing sector. An investment of about ₹800 crore is proposed in these projects.
Warehousing and Logistics Policy-2022 increases investor confidence
Under the Uttar Pradesh Warehousing and Logistics Policy-2022 of the state government, investors are being provided facilities like incentives, financial assistance and tax exemption to set up logistics and storage units on private land. Due to this policy, the confidence of investors is continuously increasing and the investment environment in the state is becoming stronger.
8 New Projects: Silo, Warehouse and Logistics Hub
The 8 projects sanctioned include 5 silos, 2 warehousing units and 1 logistics project. These projects will be set up in districts like Unnao, Auraiya, Balrampur, Shravasti, Sultanpur, Lucknow, Gautam Buddha Nagar and Hapur. Under these projects, approximately 110 acres of area will be developed, which will strengthen the agricultural and industrial supply chain and improve storage capacity.
61 projects approved, investment over ₹12,900 crore
With these new projects, till now a total of 61 projects have been approved by UPCIDA under the Warehousing and Logistics Policy-2022 and PIP Policy. These projects will be developed on about 810 acres of land, with a proposed investment of more than ₹12,900 crore. This will increase the capacity for safe storage of grains, farmers will get better facilities and logistics infrastructure will be strengthened.
Emphasis on multi-modal logistics hub and employment generation
The focus of the state government is on the development of multi-modal logistics hubs, warehouse clusters, cold chains and modern distribution centres. These projects will also generate employment opportunities on a large scale, which will strengthen the local economy.
Ease of doing business and transparent system
Uttar Pradesh government is continuously improving the ‘Ease of Doing Business’ to attract investors. It is also being ensured that all incentive schemes reach investors in a simple, transparent and timely manner. The objective of the government is not only to attract investments but also to implement them successfully on the ground.