Uttar Pradesh will give 25 per cent rebate on land and discounts on electricity to get investments for a defence industries corridor planned across six districts and expected to create about 2,50,000 jobs, said a state minister.
Satish Mahana, industrial development minister, told Business Standard his government will update the Defence and Aerospace Policy 2018 to get companies to the UP Defence Corridor, where investments worth Rs 20,000 crore are planned. The state government has signed initial agreements worth Rs 4,000 crore with state-owned and private companies.
The government aims to acquire nearly 3,000 hectares in the initial phases for the Corridor, which will span Aligarh, Agra, Jhansi, Kanpur, Lucknow and Chitrakoot.
“There are some Central (government) policies related to the defence sector, which are being finalised. We are awaiting these policies, so that we take the process forward in UP,” said Mahana.
“We are giving 25 per cent rebate on land cost, which is a big incentive to attract investment in the Corridor. Besides, the state is offering other sops, including power substations, link roads etc,” he said.
“I have broached upon the matter with the defence minister (Rajnath Singh) and sought time for discussions. He has promised for a detailed meeting after Parliament session is over,” said Mahana.
Prime Minister Narendra Modi laid the foundation of Defence Corridor in Jhansi district on February 15, 2019, a year after aiming to make the state India’s first trillion dollar economy.