UPSIDA Achieves Record Revenue in FY 2023-24

06 May 2024 CW Team

Headquartered in Kanpur, UPSIDA has been instrumental in realizing Chief Minister Yogi Adityanath's vision of transforming Uttar Pradesh into an industrial powerhouse, as highlighted in the government statement. Strategic initiatives aimed at bolstering infrastructure in industrial zones to attract investors have resulted in a significant fourfold increase in infrastructure development expenditure, soaring from Rs 104 crore in FY 2017-18 to Rs 415 crore in FY 2023-24.

Mayur Maheshwari, CEO of UPSIDA, emphasized the authority's commitment to expanding Uttar Pradesh's industrial landscape. He underscored UPSIDA's notable achievements in land allocation, with 693 plots allocated in the fiscal year 2023-24 alone. This initiative not only benefits investors but also strengthens the authority's financial position.

Maheshwari further highlighted UPSIDA's transparent land allocation process through e-auctions and Nivesh Mitra, facilitating the allotment of more than 1,600 plots to investors over the last three years. He attributed the authority's success in gaining investors' trust to this transparent approach.

In the realm of digitization, UPSIDA has played a pivotal role in Uttar Pradesh's economic development. Through Nivesh Mitra, UPSIDA offers 34 online e-services, a significant increase from just two before the onset of COVID-19. More than 31,000 applications have been processed with a satisfaction rate of 96 percent, reflecting the efficiency and effectiveness of these digital initiatives.

Moreover, UPSIDA has prioritized skill development and women's participation in the workforce, establishing women-centric facilities like Pink Toilets and Pink Dormitories under initiatives such as Atal Industrial Infrastructure Mission (AIIM) and Secure Industrial Zone Projects. These efforts have led to increased women's participation and employment in industrial parks across the state.

To address investor and entrepreneur concerns, UPSIDA has set up citizen-facilitation centers, providing immediate and satisfactory solutions to queries related to various departments. These centers aim to streamline processes and enhance the ease of doing business in Uttar Pradesh.

With its remarkable achievements and strategic initiatives, UPSIDA continues to play a pivotal role in propelling Uttar Pradesh towards becoming a key driver of industrial development in the country.

Uttar Pradesh State Industrial Development Authority (UPSIDA) has reached a significant milestone in its journey towards fostering industrial growth in the state, as it announces its highest-ever operating revenue of Rs 1,359 crore for the financial year 2023-24. This achievement, outlined in an official release, reflects a doubling of revenue compared to the fiscal year 2018-19, indicative of a robust trajectory towards industrial prosperity in Uttar Pradesh. Headquartered in Kanpur, UPSIDA has been instrumental in realizing Chief Minister Yogi Adityanath's vision of transforming Uttar Pradesh into an industrial powerhouse, as highlighted in the government statement. Strategic initiatives aimed at bolstering infrastructure in industrial zones to attract investors have resulted in a significant fourfold increase in infrastructure development expenditure, soaring from Rs 104 crore in FY 2017-18 to Rs 415 crore in FY 2023-24. Mayur Maheshwari, CEO of UPSIDA, emphasized the authority's commitment to expanding Uttar Pradesh's industrial landscape. He underscored UPSIDA's notable achievements in land allocation, with 693 plots allocated in the fiscal year 2023-24 alone. This initiative not only benefits investors but also strengthens the authority's financial position. Maheshwari further highlighted UPSIDA's transparent land allocation process through e-auctions and Nivesh Mitra, facilitating the allotment of more than 1,600 plots to investors over the last three years. He attributed the authority's success in gaining investors' trust to this transparent approach. In the realm of digitization, UPSIDA has played a pivotal role in Uttar Pradesh's economic development. Through Nivesh Mitra, UPSIDA offers 34 online e-services, a significant increase from just two before the onset of COVID-19. More than 31,000 applications have been processed with a satisfaction rate of 96 percent, reflecting the efficiency and effectiveness of these digital initiatives. Moreover, UPSIDA has prioritized skill development and women's participation in the workforce, establishing women-centric facilities like Pink Toilets and Pink Dormitories under initiatives such as Atal Industrial Infrastructure Mission (AIIM) and Secure Industrial Zone Projects. These efforts have led to increased women's participation and employment in industrial parks across the state. To address investor and entrepreneur concerns, UPSIDA has set up citizen-facilitation centers, providing immediate and satisfactory solutions to queries related to various departments. These centers aim to streamline processes and enhance the ease of doing business in Uttar Pradesh. With its remarkable achievements and strategic initiatives, UPSIDA continues to play a pivotal role in propelling Uttar Pradesh towards becoming a key driver of industrial development in the country.

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