UP industrial authority collects record Rs 1,359 cr revenue in FY24

The Uttar Pradesh Industrial Development Authority (UPIDA) collected a record revenue of Rs 1,359 crore in FY24, indicating substantial growth and development within the state's industrial sector.

Bhakti Kothari
New Update

The Uttar Pradesh State Industrial Development Authority (UPSIDA) set a new record by collecting Rs 1,359 crore as operating revenue during the fiscal year 2023–'24 (FY24), an official release has announced. The feat underlines the fact that the public sector undertaking has made significant strides in realising Chief Minister Yogi Adityanath’s vision of transforming Uttar Pradesh into an industrial powerhouse, the statement said.

For UPSIDA, the “achievement marks a doubling of revenue compared to financial year 2018-19, indicating a robust trajectory towards industrial growth in the state”, the release observed.

The public sector undertaking based in Kanpur has made a strategic effort to bolster infrastructure of industrial zones, the authority said in its statement, in order to attract investors. This, in turn, led to a fourfold increase in infrastructure development expenditure, the release noted, adding that allocation grew from Rs 104 crore in fiscal year 2017-’18 to Rs 415 crore in FY24.

Among sectors that show perceptible achievement on the part of UPIDA is land allocation, with e-auctions adding transparency to the process thanks to Nivesh Mitra, the user friendly and entrepreneur centric web application that enables investors to seamlessly obtain online clearance from concerned state departments. In all, 693 plots were allotted in FY24 while more than 1,600 plots were allotted to investors over the past three years. Incidentally, Nivesh Mitra provides 34 e-services today, as compared to just two before COVID-19.

UPSIDA has made efforts to increase women’s participation in the industrial workspace as well as promote skill development in this segment of the population. Such efforts include facilities as Pink Dormitories and Pink Toilets as a part of Atal Industrial Infrastructure Mission and Secure Industrial Zone Projects. The public sector undertaking has also launched a Citizen Facilitation Centre to deal with the various queries and problems of investors.

UP Industrial Authority