UP Govt inks over 154 defence deals worth Rs 250 Bn

09 Jul 2024 CW Team

According to a senior Uttar Pradesh government official, the state administration has finalised more than 150 defence manufacturing agreements amounting to Rs 250 billion. The government is focusing on expanding India's defence export capabilities. The Ministry of Defence announced that India's annual defence production reached nearly Rs 1.27 trillion in FY24, marking a 16.7% increase from the previous year's figure of about Rs 1.09 trillion.

These defence projects are part of the extensive UP Defence Industrial Corridor (UPDIC), encompassing Lucknow, Kanpur, Jhansi, Aligarh, Chitrakoot, and Agra districts. The official stated that these initiatives are expected to generate approximately 40,000 new jobs.

"We have entered into 154 memorandums of understanding (MoUs) with various companies, and around 85 deals are currently under evaluation," he mentioned. The Uttar Pradesh Expressway Industrial Development Authority (UPEIDA), serving as the corridor's nodal agency, continues to acquire large tracts of land for allocation to industrial entities. UPEIDA has acquired 1,700 hectares of land to date, with over 40 companies already allocated parcels.

"These 42 companies are poised to invest nearly Rs 80 billion in their respective projects, which will significantly contribute to Uttar Pradesh becoming a pivotal component in India's quest for self-reliance in defence production and boosting defence exports," the official elaborated.

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