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Two MSME parks in Noida gain momentum
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SME Times News Bureau | 17 Aug, 2021
The construction of two Micro, Small and Medium Enterprises (MSME) parks
in the New Okhla Industrial Development Authority (Noida) area of
Gautam Buddha Nagar district has gained momentum with 812 investors
buying land at the proposed sites, to set up units at the cost of Rs
2,345 crore.
The companies to be set up by these investors will provide employment to more than 42,800 people.
The
Yamuna Expressway Industrial Development Authority (YEIDA) is
developing these parks as a model to boost the MSME sector, which has
the potential to help indigenous products go global.
The MSME
parks in Noida will be followed by establishment of similar parks in
Agra, Kanpur, Moradabad, Varanasi, Azamgarh and Gorakhpur, which boast
of presence of several MSME.
The parks will herald a new era of development in Uttar Pradesh.
In terms of employment generation, the MSME sector is second only to agriculture in UP.
UP's
MSME units constitute 14.2 percent of the total MSMEs in the country
and have been exporting goods worth more than Rs 1.14 lakh crore
annually for the last three consecutive years.
The MSME Parks
will provide facilities like business and shopping centres, incubation
centres, hotels and restaurants, hostels, office blocks, health and fire
stations along with factories and factory sheds.
The parks will
also have better roads and power and water supply networks. A
certification lab will also be set up at the park itself. The parks will
also feature storehouses, container and truck terminals, railway siding
infrastructure and fuel stations.
According to Arun Vir Singh,
the CEO of YEIDA, all the entrepreneurs who have procured land in the
park have started construction of their units.
Major companies
that have started building their factories are: Swastik Industries,
United Logistics, Syria Impex, DR Auto Industries, Rushya Agritech Pvt
Ltd, MV Exim Pvt Ltd, Ranexa Medical, Shree Balaji Printing and Gapdec
Infratech Ltd.
As per the plan, an MSME park can be developed in
an area ranging from 20 to 100 acres. Fifty per cent of the total area
of the park will be reserved for the MSME sector of which 60 per cent
will go to micro and small industries. First time investors will get 50
per cent exemption in stamp duty.
There will be a wide variety of
companies at the parks making readymade garments, auto parts, food
processing and printing units. The government will get revenue through
GST on the products of these companies.
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