Yeida to Launch Exclusive Industrial Plot Scheme for Japanese Manufacturers in Sector 10, Noida

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Yeida to Launch Exclusive Industrial Plot Scheme for Japanese Manufacturers in Sector 10, Noida

The Yamuna Expressway Industrial Development Authority (Yeida) has announced its plans to introduce a unique industrial plot scheme for Japanese manufacturers in Sector 10, Noida. The scheme, set to be launched on November 15, will be exclusively dedicated to Japan-based manufacturing units and will be located near the upcoming Noida International Greenfield Airport in Jewar.

In addition to Sector 10, Yeida will also allocate land to Japanese companies in Sector 32, which is situated adjacent to Sector 10. This development comes after the Uttar Pradesh cabinet recently approved a foreign direct investment (FDI) policy that provides various subsidies to foreign companies seeking to establish their businesses in the state.

As the Yamuna authority region is equipped with world-class infrastructure including expressways, rail connectivity, and proximity to the rest of the country via air travel, at least 15 Japanese companies have already expressed their interest in investing in the region. Yeida aims to offer these companies the best services and create a favorable business environment for them.

Spanning 500 acres in Sector 10, the Japanese City will exclusively accommodate Japanese investors who wish to establish their manufacturing units. These units will primarily focus on the production of electronics products, semiconductors, AI, chips, and other similar items.

The FDI policy approved by the Uttar Pradesh government provides several benefits, including the mixed land use on industrial plots and freedom on floor area ratio. This enables foreign businessmen to construct residential, industrial, and commercial projects under a single roof, such as shopping malls, hotels, and office spaces, thereby maximizing their profitability. To avail these benefits, companies must make a minimum investment of ₹100 crore.

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Under the scheme, the company will also receive a subsidy of 75% of the land cost from Yeida. For instance, if a company invests ₹100 crore and purchases 100 acres of land, 75% of the total land cost will be reimbursed to the company in installments once the project is established. Additionally, the company will be exempt from state GST for 10 years.

The government will allocate waste and barren government land to Yeida for the implementation of this scheme. Moreover, companies will be relieved from paying electricity charges for five years and will receive a 100% exemption from those charges thereafter.

The government’s initiative also focuses on creating skilled human resources by training the youth through these Japanese companies. Consequently, the state will provide ₹5,000 per person per month to companies for training 500 individuals, thereby nurturing skilled professionals.

To further encourage investments, the Uttar Pradesh government offers a 25% subsidy on capital investment in Gautam Budh Nagar and Ghaziabad, 30% in Paschimanchal and Madhyanchal, and 35% in Bundelkhand and Purvanchal.

This scheme is a significant step towards attracting Japanese investments and fostering economic growth in the region. With the support of world-class infrastructure and various incentives, Uttar Pradesh aims to be a preferred destination for foreign companies, boosting employment opportunities and overall development within the state.

Frequently Asked Questions (FAQs) Related to the Above News

What is the industrial plot scheme for Japanese manufacturers launched by Yeida?

The industrial plot scheme launched by Yeida is an exclusive scheme dedicated to Japanese manufacturers in Sector 10, Noida. It aims to attract Japanese companies to invest in the region and establish their manufacturing units.

Where will the industrial plot scheme be located?

The scheme will be located near the upcoming Noida International Greenfield Airport in Jewar, specifically in Sector 10 and Sector 32 of Noida.

What incentives does the scheme provide to Japanese companies?

The scheme offers several incentives to Japanese companies, including subsidies on land cost, exemption from state GST for 10 years, and freedom on floor area ratio for constructing various types of projects. The government also provides waste and barren government land for the implementation of this scheme.

How can companies benefit from the subsidy on land cost?

Under the scheme, companies will receive a subsidy of 75% of the land cost from Yeida. For example, if a company invests ₹100 crore and purchases 100 acres of land, 75% of the total land cost will be reimbursed to the company in installments once the project is established.

Are there any additional benefits for companies investing in this scheme?

Yes, apart from the subsidies and exemptions, companies will also be relieved from paying electricity charges for the first five years. Afterward, they will receive a 100% exemption from those charges.

What is the minimum investment required to avail the benefits of the scheme?

To avail the benefits, companies must make a minimum investment of ₹100 crore.

How does the scheme contribute to skill development?

The state government aims to create skilled human resources by training the youth through these Japanese companies. For this purpose, the government will provide ₹5,000 per person per month to companies for training up to 500 individuals, thereby nurturing skilled professionals.

Do other regions in Uttar Pradesh offer similar investment incentives?

Yes, the Uttar Pradesh government offers different levels of subsidies on capital investment in various regions. This includes a 25% subsidy in Gautam Budh Nagar and Ghaziabad, 30% in Paschimanchal and Madhyanchal, and 35% in Bundelkhand and Purvanchal.

What is the overall goal of the industrial plot scheme?

The scheme aims to attract Japanese investments, foster economic growth, and create employment opportunities in the region. It also positions Uttar Pradesh as a preferred destination for foreign companies by providing world-class infrastructure and various incentives.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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