UP to have central scheme to boost investment in defence corridor

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Union Defence Minister Rajnath Singh

The Union Defence Minister Rajnath Singh has stated that the Centre will soon come up with a scheme for the defence sector, that will support the firms by giving them incentives to invest in defence corridors. This would boost investment in the defence corridor.

Singh stated this while responding to a question during the Investors’ meet on the Uttar Pradesh Defence Corridor at Chief Minister Yogi Adityanath’s official residence in Lucknow on Friday. Singh said that A centrally sponsored scheme with the provision to incentivise the defence industry in investing in defence corridors will soon be brought.

He further added that defence corridors have been established in Uttar Pradesh and Tamil Nadu to develop an ecosystem for industries that can fulfill all their small and big needs easily from one place and in an economical way.

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Promising investors to consider their requests like “corridor specific allocations”, Rajnath said that the government is committed to fulfill the needs of the defence industry and expressed confidence that a strong defence manufacturing ecosystem will be developed in Uttar Pradesh.

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