After receiving investment offers totaling close to Rs 34 trillion at the Uttar Pradesh Global Investors Summit (GIS) 2023, the state of Uttar Pradesh has begun the process of acquiring land for allotment to industry.

Mayur Maheshwari, Chief Executive Officer of UPSIDA, has sent letters to all district magistrates requesting details on "gram sabha" land and the effective circle rate under their purview.

In addition to national and state roadways, the gram sabha property would be purchased nearby motorways for the development of greenfield industrial centres.

In Phase I, the UP State Industrial Development Authority (UPSIDA) plans to add 7,000 acre to its existing 15,000 acre of land inventory. The total amount of land suitable for industrial use would then be 22,000 acre.

In the meantime, the authority has encouraged the state government to provide land for new allotment that is currently held by ailing state and semi-state government industrial entities, including spinning mills. The process of auctioning off the available land to individual investors has already begun by UPSIDA.

To accommodate the more than 19,000 GIS projects, the state is expected to need 30,000 acre of land.

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