Friday, October 23, 2020
Home News Reports Industrial corridor : Yogi government rolls out sops for defence manufacturing in Uttar Pradesh

Industrial corridor : Yogi government rolls out sops for defence manufacturing in Uttar Pradesh

As part of its ambitious plan to set up defence production in the state, Uttar Pradesh government is offering discounts for defence production players to set up units in Uttar Pradesh, reported Economic Times.

A Rs. 20000 crore ‘Defence Industrial Corridor’ was announced in the state by the Modi government at the two-day Defence Investors Summit organized by UP government in February this year. Earlier, in his budget speech, Finance Minister Arun Jaitley had said that two industrial corridors will be set up in the country. One between Chennai and Bengaluru passing through Coimbatore and the second one in Bundelkhand region of UP which is nearly 3000 hectares in area passing through Aligarh, Agra, Jhansi, Chitrakoot, Kanpur and Lucknow. Defence Minister Nirmala Sitharaman had also laid emphasis on putting a curb on foreign defence purchases and to encourage domestic production.

According to the ET report, which is based on a draft policy, among a host of other benefits, the government is offering reimbursement up to 25% of the cost of land to units which invest over Rs 300 crore or which create at least 1,000 direct job opportunities in the notified area of the corridor. This 25% reimbursement will also be applicable to ‘anchor units’. The units, Indian or global, original equipment manufacturer (OEM) companies which design and manufacture defence and aerospace platforms with investments of over Rs 200 crore and bring at least 10 vendor units are defined as ‘anchor units’.

Vendor units should be located in the same cluster as ‘anchor units’ and should supply at least 75% of its end product to any ‘anchor units’. Small units with lesser investment will get 10-15% discount on the land cost. The policy aims to attract private investment in the state in the area of defence production.

Interested Public Sector Units might be offered land on subsidized lease rates. The state will provide incentives and subsidies to private sector companies with respect to land, Research & Development, testing unit, capital expenditure, infrastructure etc, full stamp duty exemption and 70%-90% state G.S.T reimbursement under the existing UP Industrial Investment and Employment Promotion Policy of 2017. There will be a 50% reimbursement of the cost of transporting imported equipment or machinery from ports or harbours to the production site in UP and for finished goods vice-versa during initial years.

The Modi government will also make an investment of Rs 30 billion for creating the necessary infrastructure to help private sector set up their units in quick time and develop a partnership with Indian companies for joint production with the terms of technology transfer. Indian Institute of Technology – Kanpur (IIT-K) and Banaras Hindu University (BHU) has been engaged as knowledge partners.

The Defence corridor is an ambitious part of Modi government’s Make In India project. It is also expected to create about 2.5 lakh jobs.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

Related Articles

Trending now

US Senate Committee on Judiciary approves subpoenas for Jack Dorsey and Mark Zuckerberg asking them to testify over allegations of censorship

The senate approved the subpoenas in a 12-0 vote after both Facebook and Twitter censored a New York Post report on Joe Biden

Remembering Lalu’s Jungle Raj in Bihar: When an IAS officer’s wife was raped for two years by an RJD leader

During Lalu's Jungle Raj in Bihar, IAS Officer BB Vishwas's wife Chamba Biswas was raped for 2 years by RJD leader Mrityunjay Yadav

“Your outrage against Hinduphobic content on OTT platforms may actually be fuelling more such content”- Here is what an industry insider says

OTT platforms are not hit if a movie or a series if boycotted for Hinduphobic content as people have already paid for subscription

No, India Today, Katrina Kaif in yellow saree for Navratri is not offensive to Hindus, this is where you got it wrong

India Today tries to be holier than thou while trying to paint Hindus as trolls over Eros Now's vulgar Navratri posts

CM Yogi distributes relief amount of Rs 113.21 crore among the flood-affected farmers in Uttar Pradesh

CM Yogi distributed the relief amount to the flood-affected farmers in 19 districts of the state by online transaction.

‘Mughal Prince Tucy’ lashes out on AIMIM’s Asaduddin Owaisi, calls him ‘Bewakoof, and Gadha’

Prince Tucy said that when the people of Hyderabad are dealing with horrific floods, MP Asaduddin Owaisi is busy doing poll campaign in Bihar.

Recently Popular

France: Charlie Hebdo cartoons projected on government building to express solidarity with deceased teacher who was beheaded by Islamic terrorist

Days after the barbaric beheading of teacher Samuel Paty on the streets of Paris by a terrorist for showing the cartoons of Prophet Mohammad to his students, support continues to pour in for the deceased teacher.

Eros Now apologises for publishing vulgar Hinduphobic content on Navratri

After netizens outraged over vulgar posts on Navratri, Eros Now issued an apology.

Lucknow: Jama Mazar caretaker ‘Kale Baba’ caught running sex racket, video goes viral

The caretaker has allegedly confessed to police that he was sexually exploiting women and engaging them in illicit activities in the name of curing infertility and other ailments.

No, India Today, Katrina Kaif in yellow saree for Navratri is not offensive to Hindus, this is where you got it wrong

India Today tries to be holier than thou while trying to paint Hindus as trolls over Eros Now's vulgar Navratri posts

Remember Sheena Bora case? Param Bir Singh was the IG of Konkan range, the site where her body was dumped

Param Bir Singh knew that Sheena Bora was missing. He had asked Rahul Mukerjea to file a 'missing persons' report. Sheena, however, was never reported as 'missing'.

Complaints filed against Eros Now and Arré for vulgar social media posts related to Navratri

Both Eros Now and Arre had published social media posts linking Navratri festival with sex and vulgarity
- Advertisement -

US Senate Committee on Judiciary approves subpoenas for Jack Dorsey and Mark Zuckerberg asking them to testify over allegations of censorship

The senate approved the subpoenas in a 12-0 vote after both Facebook and Twitter censored a New York Post report on Joe Biden

Complaints filed against Eros Now and Arré for vulgar social media posts related to Navratri

Both Eros Now and Arre had published social media posts linking Navratri festival with sex and vulgarity

Chhattisgarh police file FIR against video journalist who had reported on farmer protests based on an allegedly edited video

Video journalist Manish Soni had reported about the plight of farmers whose paddy crops were ruined due to anti-encroachment drive

Reducing Navratri to ‘mating dance’, comparing Holi with terrorism— how the Indian media has turned Hinduphobic

After Eros Now posted series of vulgar messages associated with Navratri, far-left site Arre posted a Hinduphobic tweet on Durga puja

Remembering Lalu’s Jungle Raj in Bihar: When an IAS officer’s wife was raped for two years by an RJD leader

During Lalu's Jungle Raj in Bihar, IAS Officer BB Vishwas's wife Chamba Biswas was raped for 2 years by RJD leader Mrityunjay Yadav

“Your outrage against Hinduphobic content on OTT platforms may actually be fuelling more such content”- Here is what an industry insider says

OTT platforms are not hit if a movie or a series if boycotted for Hinduphobic content as people have already paid for subscription

Mumbai Police threatens Republic TV executive editor with imprisonment for refusing to reveal source of Hansa report in TRP scam

Republic TV Executive Editor warned by Mumabi Police that he will be booked under IPC sections 174 and 179 if does not give source of Hansa report

No, India Today, Katrina Kaif in yellow saree for Navratri is not offensive to Hindus, this is where you got it wrong

India Today tries to be holier than thou while trying to paint Hindus as trolls over Eros Now's vulgar Navratri posts

UP: Police find conversion of over 200 people to Buddhism fake, people were asked to sign conversion papers disguised as govt scheme

After reports of 236 Valmiki community members converting to Buddhisim, police find no evidence of conversion in Karehra village

Lucknow: Jama Mazar caretaker ‘Kale Baba’ caught running sex racket, video goes viral

The caretaker has allegedly confessed to police that he was sexually exploiting women and engaging them in illicit activities in the name of curing infertility and other ailments.

Connect with us

245,563FansLike
466,030FollowersFollow
18,800SubscribersSubscribe