Ease of Doing Business for MSMEs: Uttar Pradesh’s Chief Minister, Yogi Adityanath said that the state government is all set to transform western and central regions of UP into an auto and electric vehicle industries hub as per a report by the Press Trust of India (PTI).
The auto and electric vehicle industries in Western and Central Uttar Pradesh already have adequate resources, the minister said and added all they need is just a push since the demand for electric vehicles is growing.
In 2019, the Gross State Value Addition (GSVA) of Uttar Pradesh in the auto industry was $1.5 billion which is projected to increase to $5 billion in the next five years, the report added.
For the development of the industry, 9,000-10,000 acres of land in the western and central parts of the state will be required and the state government will spend $19-20 billion for that purpose.
The auto components and electric vehicles manufactured in the state will be supplied overseas to the United Kingdom, the United States, Australia and South Asia.
For establishing large enterprises under this project, Gautam Budh Nagar, Ghaziabad, Lucknow, Hapur, Kanpur Nagar, and Meerut have been chosen by the Uttar Pradesh government.
Further, to develop the micro, small and medium enterprises (MSMEs), the state government has chosen cities including Agra, Shahjahanpur, Aligarh, Prayagraj, Saharanpur and Etawah.
Earlier in November, the minister notified that the state will soon launch the new food processing policy that will address the concerns raised by the MSME entrepreneurs.
Meanwhile, the state government in October this year also announced that it would provide a 25 per cent subsidy on purchase of land and up to 100 per cent exemption on stamp duty for setting up textile units in the state as part of its new textile policy.