The UP Defence Industrial Corridor has six nodes – Agra, Aligarh, Jhansi, Chitrakoot, Lucknow and Kanpur. (File Photo)The Uttar Pradesh government is likely to sign 13 industrial memorandums of undertsanding (MOUs) worth Rs 564 crore at the ongoing DefExpo-2022 in Gujarat to partner with over 100 companies with an estimated investment target of around Rs 600 crore, officials said.
Among the incentives that the state government is offering to companies to pitch itself as a leading destination for defence and aerospace manufacturing at the expo are a capital subsidy of up to Rs 500 crore, a 25% land subsidy and research and development tie-ups with premier institutes.
A team of officials led by Chief Nodal officer for Uttar Pradesh Defence Industrial Corridor Air Chief Marshall (retd.) RKS Bhadauria have already reached Gujarat, while Uttar Pradesh Infrastructure and Industrial Development Minister Nand Gopal Gupta “Nandi” would be reaching the Defence Expo on Wednesday to meet potential investors.
“A high-level team led by retired Air Chief Marshal RKS Bhadauria has reached Gujarat, while minister Nanda Gopal Gupta “Nandi” would be reaching Gujarat on Wednesday, where we have set up a stall at the DefExpo. We have about 13 MOUs already finalised and are hoping to draw more investors by creating awareness about our new policies and incentives,” said UP Infrastructure and Industrial Development Commissioner Arvind Kumar. Kumar is also the CEO of Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) – the nodal agency for the UP Defence Industrial Corridor.
“The UP government is committed to develop the defence and aerospace sector with modern infrastructure, better connectivity and policy support. We have tied up with some of the best technical institutions like IIT-Kanpur and IIT-BHU and top banks. We are participating in the DefExpo 2022 with the aim of taking the defence sector to next level and strengthening our ties with the interested investors in both defence and aerospace,” Nandi told The Indian Express on Tuesday.
The UP Defence Industrial Corridor has six nodes – Agra, Aligarh, Jhansi, Chitrakoot, Lucknow and Kanpur. The state government would be highlighting upcoming industries in the nodes — unmanned aerial systems, precision components production, small arms and metal works in Aligarh; electronics and non-polluting industries in Agra; an aerospace hub and aero engine cluster in Lucknow; units to manufacture special clothing, bullerproof jackets, ammunition components and parachutes in Kanpur and; land systems, arms and ammunitions in Jhansi.
Among the key features of its recently announced policies, the government will be offering a capital subsidy of 7 per cent upto Rs 500 crore to all defence and aerospace units being set up in Aligarh, Agra, Lucknow and Kanpur nodes.
A 10% subsidy up to Rs 500 crore for investors in Jhansi and Chitrakoot nodes of Bundelkhand was also announced, along with a 25% land subsidy for anchor defence and aerospace units. The state government will bear the cost of developing infrastructure of all six nodes.The state will also offer research and development tie-ups with prominent academic institutions like IIT-Kanpur and IIT-BHU, as well as Defence Research and Development Organisation (DRDO) and HAL’s Aerospace Systems & Equipment R&D Centre (ASERDC).