Uttar Pradesh govt sets aside 425 acres for fintech, apparel parks

Uttar Pradesh has earmarked 425 acres near Noida airport for fintech and apparel parks, aiming to boost exports, jobs and its push to become an industrial hub

In a move to further industrialise the state, the Uttar Pradesh (UP) government has earmarked 425 acres of industrial grade land in the National Capital Region (NCR) for two export-oriented projects in the fintech and apparel sectors.

 

The proposed fintech and apparel parks will come up in the Yamuna Expressway Industrial Development Authority (YEIDA) area of Gautam Buddha Nagar district (Noida/Greater Noida). 

 

Of the total land, 250 acres will be allocated to the fintech park and 175 acres to the apparel park. The projects are expected to generate thousands of jobs for the state’s youth.

 

Both parks are strategically located near the upcoming Noida International Airport (NIA), expected to be commissioned soon. Proximity to the Delhi-NCR region is likely to reduce logistics costs and enable faster deliveries, giving an edge to companies and exporters.

 

"The fintech park will provide a modern ecosystem for banking, digital payments, insurtech, investtech, fintech software as a service (SaaS), and international money transfer services," a senior Uttar Pradesh government official said. 

 

The park will cater to major domestic and global fintech players while also fostering financial startups and blockchain-based technologies.

 

With this project, the Yogi Adityanath government aims to position UP as a major fintech hub of India. "The project is envisioned not only as an IT park but as a comprehensive financial technology ecosystem," the official added.

 

The state government has assigned the task of preparing the detailed project report (DPR) to a global consultancy firm. The DPR will outline the project’s blueprint, investment model, employment potential, and phased development plan.

 

Meanwhile, the proposed apparel park is expected to position UP as a prominent hub for textiles and garments. Designed for export-oriented readymade garments units, the park will house about 100 production units catering to domestic and international markets.

 

Developed on a cluster model, the apparel park will offer shared infrastructure and common services to enhance efficiency. The project aligns with the state’s industrial policy and the vision of a self-reliant India, reinforcing the ‘Make in UP’ and ‘Vocal for Local’ initiatives.

 

By developing the textile value chain within the state, the apparel park is expected to generate indirect benefits for farmers, handloom weavers and small entrepreneurs.

 

A common facility centre will house a design unit, training facilities, unit testing laboratories, and quality control infrastructure. It will allow enterprises to avoid capital investment in standalone facilities, thereby lowering production costs and improving competitiveness.