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June 10, 2024

UP Government Accelerates Land Acquisition for Amritsar-Kolkata Industrial Corridor

The Uttar Pradesh (UP) government is aggressively acquiring land for the Amritsar-Kolkata Industrial Corridor (AKIC) in a strategic move to position the state as a prime investment destination. This ambitious project aims to transform the region’s industrial landscape and stimulate economic growth.

AKIC is set to span 20 cities across seven states: Punjab, Haryana, UP, Uttarakhand, Bihar, Jharkhand, and West Bengal. The corridor will connect two major nodes located in Agra and Prayagraj districts, traversing one of the world’s most densely populated regions. This area supports nearly 40% of India’s population, many of whom live in economically weaker districts.

The corridor will be developed alongside the Eastern Dedicated Freight Corridor, enhancing connectivity and logistics efficiency. UP Chief Minister Yogi Adityanath emphasized the state’s commitment to the project, instructing officials to ensure a continuous and adequate land supply. “Maintain continuous communication with the Centre for the project. This industrial corridor will give new heights to the state’s development,” he stated.

AKIC is designed to foster infrastructure and industrial expansion across the seven states it passes through, aiming to drive industrial growth and job creation. To bolster investor confidence, the Chief Minister has directed officials to resolve industry-related matters promptly.

UP is actively promoting a variety of infrastructure projects, including freight corridors, dry ports, expressways, airports, highways, waterways, and logistics hubs. These efforts are part of a broader strategy to attract investment and improve the state’s business environment.

In a recent development, a delegation from Bank of America (BoA) met with UP’s Additional Chief Secretary and Infrastructure and Industrial Development Commissioner Manoj Kumar Singh in Lucknow to explore investment opportunities. Singh highlighted the state’s emergence as a preferred investment destination for both domestic and international companies. “UP is India’s most favoured business destination owing to its rich cultural heritage and favourable business environment. The improved law and order has significantly contributed to creating a conducive environment for business and investment,” he said.

The BoA delegation expressed interest in various sectors, including agriculture, tourism, energy, and healthcare, recognizing UP’s strategic importance in India’s economic landscape. An official noted, “The delegation expressed a strong interest in contributing to the state’s dynamic growth, recognizing its strategic importance as a key investment destination in India.”

The UP government is actively showcasing its industrial and Foreign Direct Investment (FDI) policies to attract global corporations. This was evident at the UP Global Investors Summit 2023, where the state garnered investment proposals amounting to approximately ₹40 trillion. This impressive figure underscores the state’s potential and attractiveness to investors worldwide.

As the UP government continues to push forward with the AKIC and other infrastructural projects, the state is poised to become a significant hub for industrial and economic activity in India. The aggressive land acquisition strategy and the commitment to improving the business environment are key components of this transformative agenda.

Read more latest news on R9 News

Jhumpa Lahiri

Jhumpa Lahiri

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