Major investors set up business ventures in Noida at Rs 20,560 cr

On Monday, Industrial Development officials told the media that 855 big investors based in India and abroad are setting up their enterprises in Noida at Rs 20,560 crore. Industrialists have been given plots by the development authority to install their units, which will employ 1.47 lakh people permanently. Notable among the investors are Adani Group, Paytm, TCS, Samsung, Kent RO, Microsoft and Haldiram's. With the development of the Jewar airport in progress, the number of investors establishing their companies in Yamuna Expressway Industrial Development Authority (YEIDA) will rise exponentially in subsequent days. As per the officials, all the 855 investors who have procured industrial plots in Noida have already begun construction of their units while some of these units have been developed and have become operational as well. Samsung has installed a mobile display unit at Rs 4,826 crore in Noida that employs 2,500 people. Likewise, Paytm has established its own venture with an investment of Rs 302 crore that has granted jobs to 15,000 people. Besides, in the information technology (IT) sector, Motherson Group and TCS have invested Rs 47 crore and Rs 2,300 crore, respectively, in Noida. The Adani Group has also procured 39,146 acres of land to install a company at Rs 2,500 crore in the data processing sector. Microsoft, a multinational company, has acquired 60,000 acres of land to establish a unit at Rs 1,000 crore in the IT sector. INGKA Company has acquired 47,833 acres of land to invest Rs 5,500 crore in the property business. Besides, Westway Electronics, Yun Flex Ltd, Kent RO, Adverb Technology, Neptune Systems, Roto Pumps Ltd, Ikea Solutions, Agarwal Associates, Dixon Technology, Surabhi Group, Vivotex Project, have also procured plots of land in Noida to begin their business ventures. Noida is rising as an industrial hub not just for Uttar Pradesh but for the entire region. Established on April 17, 1976, on the border of Uttar Pradesh and Delhi, the New Okhla Industrial Development Authority (Noida) of Gautam Buddha Nagar district has been drawing investors from both within the country and overseas since its origin. In the past four years of the Yogi Adityanath government, Noida has observed the most rapid development in 45 years of its existence. Over 10,200 industrial units have been set up in Noida, thereby rendering employment to over eight lakh people. There are over 2,000 call centres in Noida. The per capita income of Noida is more than ten times the per capita income of the state. Compared to the state average of Rs 66,512, the per capita income of Noida is a whopping Rs 6.71 lakh. Image Source Also read: PM Narendra Modi inaugurates infra projects in UP worth Rs 1,583 cr