Smart City development advances in UP: Piyush Goyal

01 Oct 2024 CW Team

Last month, the Union Cabinet approved the establishment of 12 industrial smart cities in Uttar Pradesh, including Agra and Prayagraj, with a total investment of Rs 286.02 billion. The project is expected to generate 1 million direct jobs and up to 3 million indirect jobs, with an overall investment potential of Rs 1.5 trillion.

Goyal also praised the advancements in India’s intellectual property rights (IPR) regime, noting that the number of patents issued has seen a significant rise—from 6,000 in 2014 to 100,000 in 2024. India now ranks 39th among 133 countries in the Global Innovation Index 2024, released by the World Intellectual Property Organization.

“We have become a globally recognised innovation economy. People engaged in R&D and innovation have acknowledged how much our IPR framework has evolved,” Goyal stated.

Goyal further emphasised the importance of supporting local industries by encouraging the use of Indian-made products to reduce dependence on imported goods. He highlighted sectors such as semiconductor manufacturing, electronics, high-quality electric mobility, and construction machinery as key areas for growth.

Goyal also discussed the Department for Promotion of Industry and Internal Trade’s (DPIIT) efforts to streamline regulations with the Jan Vishwas 2.0 initiative, which aims to simplify nearly 100 rules and laws across various government departments. This is part of the government’s 100-day thrust to enhance the ease of doing business.

The Jan Vishwas (Amendment of Provisions) Act, 2023, decriminalised minor offences across 42 Central Acts and eliminated 183 criminal provisions across 19 Ministries. It introduced civil penalties and administrative actions for minor lapses to reduce the fear of criminal penalties, thereby boosting investor confidence.

The Joint Parliamentary Committee overseeing the Jan Vishwas Bill has recommended extending the reforms to additional legislation to further modernize India’s regulatory framework and improve the business environment. (ET)

Commerce and Industry Minister Piyush Goyal announced that the first phase of smart city development in Uttar Pradesh is nearly sold out, with discussions underway for the next phase. Speaking at the UP International Trade Show, Goyal highlighted the rapid progress of the state’s smart city initiatives. Last month, the Union Cabinet approved the establishment of 12 industrial smart cities in Uttar Pradesh, including Agra and Prayagraj, with a total investment of Rs 286.02 billion. The project is expected to generate 1 million direct jobs and up to 3 million indirect jobs, with an overall investment potential of Rs 1.5 trillion. Goyal also praised the advancements in India’s intellectual property rights (IPR) regime, noting that the number of patents issued has seen a significant rise—from 6,000 in 2014 to 100,000 in 2024. India now ranks 39th among 133 countries in the Global Innovation Index 2024, released by the World Intellectual Property Organization. “We have become a globally recognised innovation economy. People engaged in R&D and innovation have acknowledged how much our IPR framework has evolved,” Goyal stated. Goyal further emphasised the importance of supporting local industries by encouraging the use of Indian-made products to reduce dependence on imported goods. He highlighted sectors such as semiconductor manufacturing, electronics, high-quality electric mobility, and construction machinery as key areas for growth. Goyal also discussed the Department for Promotion of Industry and Internal Trade’s (DPIIT) efforts to streamline regulations with the Jan Vishwas 2.0 initiative, which aims to simplify nearly 100 rules and laws across various government departments. This is part of the government’s 100-day thrust to enhance the ease of doing business. The Jan Vishwas (Amendment of Provisions) Act, 2023, decriminalised minor offences across 42 Central Acts and eliminated 183 criminal provisions across 19 Ministries. It introduced civil penalties and administrative actions for minor lapses to reduce the fear of criminal penalties, thereby boosting investor confidence. The Joint Parliamentary Committee overseeing the Jan Vishwas Bill has recommended extending the reforms to additional legislation to further modernize India’s regulatory framework and improve the business environment. (ET)

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..