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The district of Gautam Budh Nagar emerged as the top destination for investors during the Uttar Pradesh Global Investors Summit 2023, attracting approximately one-third of all the proposed investments by value. Companies such as Ikea, the Lulu Group, and Adani Group were among the major players that committed to investing INR 10.3 lakh crore in various projects across the state. The domestic and international investors displayed a keen interest in various sectors, such as industry, manufacturing, real estate, commercial, retail, logistics, and services in the region in and around Noida, which is situated close to the national capital.
The Deputy Commissioner (Industries), Anil Kumar, informed Moneycontrol that the Gautam Budh Nagar district received investment proposals worth over INR 10.29 crore since the announcement of the UP Global Investors Summit in November 2022. During the summit, Noida ranked first among all districts in Uttar Pradesh in terms of attracting investments and creating job opportunities. More than 60% of the investment proposals are for manufacturing projects, while the remaining ones are for real estate, retail, institutional, logistics, banking, and horticulture, among others.
According to Kumar, three development authorities based in the Gautam Budh Nagar district signed 1,436 memorandam of understanding with domestic and international companies in various sectors, and the planned investments will provide employment to an estimated 2.6 million people. The Gautam Budh Nagar district has three development authorities – Noida Authority, Greater Noida Industrial Development Authority (GNIDA), and Yamuna Expressway Industrial Development Authority (YEIDA).
Officials noted that investors are flocking to Gautam Budh Nagar, particularly the YEIDA region, due to the upcoming Noida International Airport in Jewar. Big companies that have shown interest in investing in the region include Ikea, Lulu Group, Singapore-based SATS, M3M Group, Godrej, and Adani Group.
An official at YEIDA said that they received an excellent response from investors at the summit with investment proposals worth over INR 1.14 lakh crore. Most of these investments are in the manufacturing industry sector, as several significant projects, such as the toy park, medical devices manufacturing park, IT parks, data centre park, film city, EV manufacturing hubs, apparel park, and handicraft park, are coming up in the YEIDA region alongside the Yamuna Expressway.
SATS signed an MoU of INR 800 crore to develop cargo and logistics facilities at the upcoming Noida International Airport. The Adani Group expressed interest in developing an industrial and warehousing complex near the airport in the YEIDA region and has requested 700 acres of land for this purpose. Noida and GNIDA officials noted that companies in the real estate, industry, commercial, and institutional sectors signed investment proposals worth over INR 1 lakh crore each.
An official from the Noida Authority revealed that 18 companies signed MoUs for investments of above INR 1,000 crore each, while more than 13 agreed to invest over INR 500 crore each in Noida. For instance, M3M India proposed to invest INR 7,500 crore, while Ikea pledged an investment of INR 4,300 crore in the region.
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