Defence industrial corridor will be a boon for UP,Tamil Nadu
Defence industrial corridor will be a boon for UP,Tamil Nadu
Lucknow,July 16(HS)Both Tamil Nadu and Uttar Pradesh governments have moved ahead well in at least one case– development of defence industrial corridor which will provide job to lakhs of needy people and cut- down imports.Both have identified the nodal points and going ahead with acquisition of land and meeting other requirements.
While Salem and Coimbatore have been included in the list in TN,UP has Agra,Lucknow and Kanpur as the nodes.The Tamil Nadu government has already appointed a consultant to prepare a detailed project report.UP will get technical support from one of the best technical institutes in the country,IIT,Kanpur.
The UP government which has decided to offer 45 hectares of agricultural land in Aligarh to the project has also favoured providing of new incentives to entrepreneur desirous of setting units for producing defence items.The drought prone Bundelkhand region will receive more sops.
According to official sources here,50 per cent capital subsidy will be given to investors in the region in addition to other incentives.
Reimbursement of 30 per cent of land cost ,at purchase prices, is one of other sops to be offered to investors in all the nodes.The government also proposes to encourage foreign investment in the corridor.
While the Tamil Nadu project was launched by present finance minister Nirmala Sitharaman in January this year,Prime Minister Narendra Modi had launched it in UP February last.The announcement for these projects were made in the Union budget in 2018.These corridors will provide base for defence production.Investment proposals worth over Rs 3000 crores were announced by both the states on the first day itself.The total investment is hoped to reach Rs 20,000 crores in UP alone.
Exports from the two states will mark a big rise after these corridors are set up.As many as 120 aerospace companies in the southern state will be quite helpful in this regard.
The two states are likely to provide job to more than 3.5 lakh people,directly and indirectly, through these corridors.
