Noida News: The Yamuna Expressway Industrial Development Authority (Yeida) has announced a new industrial plot scheme set to launch on November 15. These plots are exclusively reserved for Japanese manufacturing units in the upcoming Japanese City, situated in Sector 10 near the Noida international greenfield airport in Jewar.
Yeida will allocate land to Japanese companies
In addition to Sector 10, Yeida will allocate land to Japanese companies in Sector 32, which is adjacent to Sector 10. This development follows the recent approval of Uttar Pradesh’s foreign direct investment (FDI) policy, designed to offer various subsidies to foreign companies interested in establishing their businesses in the state.
Yeida is capitalizing on the interest of at least 15 Japanese companies that have expressed their intent to invest in the region. The area’s world-class infrastructure, including expressways and transportation connectivity, coupled with incentives from the Uttar Pradesh government, makes it an attractive destination for Japanese businesses.
The Japanese City, spanning 500 acres in Sector 10, will exclusively host Japanese investors, particularly those engaged in manufacturing electronics products, semiconductors, AI, chips, and related items.
FDI policy approved by UP government provides several benefits
The FDI policy approved by the Uttar Pradesh government provides several benefits, such as mixed land use on industrial plots and flexibility in floor area ratios. Incentives have been introduced to attract FDI, as the state currently receives only 17% of the country’s total FDI. These incentives include the option for foreign businesses to develop residential, industrial, and commercial projects on the same land, along with a subsidy of 75% of the land cost for companies investing at least ₹100 crore.
The state government will allocate waste and barren government land to Yeida for implementing this scheme. Companies investing in this scheme will also enjoy a 10-year exemption from state GST, among other benefits like subsidies, support for research and development, and training programs for local youth.
Furthermore, the article discusses regional subsidies, including a 25% capital investment subsidy in Gautam Budh Nagar and Ghaziabad, and higher subsidies in other regions, thereby highlighting the extensive support provided by the government to attract foreign investments in Uttar Pradesh.
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