Yogi’s UP is attracting investments Despite the pandemic-hit global economy slowdown
LUCKNOW, July 16 (The CONNECT) - Despite the pandemic-hit global economy slowdown, Chinese smartphone makers have lined up investments of more than Rs 10,500 crore in greenfield manufacturing plants in Uttar Pradesh.
Chinese firms including Vivo, Oppo, Sunwoda Electronic etc are setting up captive units in the Noida-Greater Noida enclave to cater the Indian as well as export markets.
Vivo is investing Rs 7,000 crore in its 169 acres mega facility in Sector 24 of the Yamuna Expressway Industrial Development Authority (YEIDA) with plans to manufacture 120 million smartphones annually and creating 60,000 jobs when the project is commissioned in two phases.
According to UP MSME and export promotion minister Sidharth Nath Singh, the State’s industrial landscape had metamorphosed under the present dispensation. “Four years ago, no one could even perceive a mobile handset factory being established in UP.”
Oppo is setting up a smartphone factory in Greater Noida at an investment of Rs 2,000 crore. Another Chinese company Sunwoda Electronic has proposed to invest Rs 1,500 crore to set up a production unit in Greater Noida to manufacture smartphones, lithium batteries and plastic mobile cases.
“Soon enough, people will no longer have to depend on China based manufacturing plants to get their preferred mobile phone brands. The companies, which are setting up their plants in UP, will be able to meet more than half of the domestic mobile handset demand,” he claimed.
Last year, South Korean consumer electronics giant Samsung had commissioned its mega smartphone manufacturing factory in Noida.
Not to be left behind, Indian companies have also proposed to set up smartphone and handset accessory factories in UP. Holitech India is investing Rs 1,772 crore to set up a mobile phone display unit in Greater Noida even as Lava Electronics has already established its smartphone plant in Noida.
Similarly, Formi Trading and Khy Electronic are setting up their respective mobile handset manufacturing units in Greater Noida and Noida.
“With the Yogi government’s initiatives, the digital India campaign has gained momentum and there is a record investment in the IT and allied sector in UP. The state is fast emerging as a major centre of smartphone manufacturing in India with companies like Oppo, Vivo, Samsung, Lava etc setting up shop,” Singh underlined.
UP, Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra are some of the states actively promoting smartphone manufacturing in the country.
Meanwhile, Yamuna Expressway Industrial Development Authority (YEIDA) in UP is emerging as a major manufacturing hub of Northern India. The Yogi government is providing the enclave with the necessary infrastructure and topping it up with faster clearances to leverage its vast investment potential.
According to an official, YEIDA has evoked keen interest among Indian and foreign investors of late. “The acquisition of industrial plots by 1,564 investors from India and abroad in the last four years bears testimony to this rising interest among investors in the YEIDA area.”
The industrialists have committed to making an investment of Rs 16,524 crore to establish their units in YEIDA, which will collectively provide employment to more than 2,60,000 people.
The civil works with regards to most of the proposed units have already started, while some of the plants are on the verge of completion as well. It includes Vivo’s proposed plant in Sector 24 of YEIDA.
Similarly, Yingtong Electronic Technology’s unit for manufacturing mobile phone accessories is almost ready in Sector 24. Besides, other companies like Surya Global Flexi, Haldiram Snacks, Holistic India, Kent RO, Orient Fashion Export, Bodycare International etc are setting up their units in YEIDA.
In fact, the quantum of investment in YEIDA is likely to shoot up exponentially once the proposed Jewar international area in Noida becomes operational in the next few years. It will catalyse the industrial and commercial landscape of the entire Northern region.
According to UP industrial development department, altogether 3,908 big investors have acquired industrial plots worth Rs 61,330 crore in UP in the last four years. Of this, the maximum 1,564 units are being set up in YEIDA.
Besides, 1,035 units will be set up in UP State Industrial Development Authority (UPSIDA), 864 units in Noida Development Authority, 345 units in Greater Noida and 118 units in Gorakhpur Industrial Development Authority (GIDA).
The prominent companies that have been allotted land in YEIDA comprise Ishi Technology, Dev Pharmacy, Kwality Buildcon, Matend Limited, Raj Corporation, Galvano India Private Limited, Bikaner, Quadrant, Swastik Industries and Narsee Monji University, a media handout listed.
The UP government is now looking to develop Handicraft Park, Apparel Park, MSME Park and Toy City in the state industrial corridors, including YEIDA.
At the same time, work is underway on other big projects viz. Film City, Raya Heritage City and Tappal Logistic Hub, which are expected to get off the ground by 2023-24. “With their completion, YEIDA would become known worldwide as a major industrial facilitator,” the official added.
He noted no one could have imagined that YEIDA would develop this fast when it was formed in 2001. ‘In 2009, a housing scheme of 21,000 plots was launched there. Since then, the pace of launching industrial, commercial, housing society, housing schemes was quite sluggish until the new dispensation came to power in March 2017.”