Development along Yamuna Expressway set to open doors for employment

YEIDA and UK-based Indian Partnership Forum have signed an MoU worth Rs 4,000 crore for opening an innovation centre with overseas citizens, which is expected to generate employment for 20,000 people in the region.

Yamuna Expressway Industrial Development Authority (YEIDA), which functions under the Industrial Development Ministry of Uttar Pradesh government and manages the land along the 165-km-long Yamuna Expressway, has been attracting companies from across the world ever since the foundation stone for the Jewar International Airport was laid in Gautam Buddha Nagar district of the State.

Some 16 companies, mostly electronics manufacturing plants associated with a UK-based company, will set up their industrial units and have been allotted around 130 acres of land in Sector 7 alongside the Expressway. Once these projects are operationalised, they are expected to create huge job opportunities for the locals in the coming years.

In this regard, UK-based Indian Partnership Forum (IPF) signed a memorandum of understanding (MoU) worth Rs 4,000 crore with YEIDA during the UP Global Investors' Summit held last month. The agreement was signed between IPF president Mohan Kaul and YEIDA CEO Arun Vir Singh, an IAS officer who is also the chairperson of Noida International Airport Limited (NIAL).

Speaking to the media, CEO Singh said the agreement was signed for the opening of an innovation centre with overseas citizens of India, which would generate employment for 20,000 people in the region. The district expects to host several companies from Japan, South Korea, Sweden and Denmark as well as various industrial townships in coming years.

Besides, industries and affordable housing projects for industrial workers would also be developed in the region around the airport.

Growing job opportunities

YEIDA has set up various industrial zones like Electronic City, Apparel Park and Food Park, which are expected to attract investment and create job opportunities in sectors such as electronics, textile, and food processing. YEIDA has also facilitated the development of commercial and residential real estate projects in the region, which have created job opportunities in the construction and related industries.

Some of the other prominent mega projects in the cards are Film City, Medical Device Park and Raya Heritage City. The State government is also planning for the development of a Multi-Modal Logistics Hub (MMLH) and a Multi-Modal Transport Hub (MMTH) in the region.

Moreover, the Hiranandani Group recently sought 100 acres of land from YEIDA for setting up a Semiconductor Park. The company's demands are being looked into, media reports quoted YEIDA officials as saying.

Earlier, Smartphone maker Vivo had announced that it has invested Rs 7,000 crore and has also set up a manufacturing plant in Greater Noida along the Yamuna Expressway. The manufacturing facility would also create employment opportunities and would also contribute to the growth of the local economy. The company is expected to provide job opportunities to around 10,000 people.

Many Indian companies like Surya Global and Bikaner Foods have also invested in YEIDA in Sector 29. Earlier, officials from Noida, Greater Noida and YEDIA had paid formal visits to Japan, South Korea and Singapore, where they held promotional events to attract investments.

Meanwhile, Uttar Pradesh government hopes to attract investments of Rs 15 lakh-crore in 2023-24. Noida, Greater Noida and YEDIA have each been charged with locating projects worth Rs 6,000 crore.