The Uttar Pradesh State Industrial Development Authority (UPSIDA) has marked a significant milestone in its journey towards industrial transformation, reporting a groundbreaking operating revenue of Rs. 1359 crore in the fiscal year 2023-24. This achievement, which effectively doubles the revenue recorded in FY 2018-19, underscores the state’s robust industrial growth trajectory under the visionary leadership of Chief Minister Yogi Adityanath.
The remarkable surge in revenue is attributed to UPSIDA’s intensified efforts to bolster industrialization across Uttar Pradesh, coupled with a commendable 9 percent reduction in administrative expenses compared to FY 2018-19.
Furthermore, the authority’s strategic focus on enhancing infrastructure in industrial zones has seen a fourfold increase in infrastructure development expenditure, soaring from Rs. 104 crore in FY 2017-18 to Rs. 415 crore in FY 2023-24.
Mayur Maheshwari, CEO of UPSIDA, expressed the authority’s unwavering commitment to expanding the industrial landscape of Uttar Pradesh, citing the allocation of 693 plots in the fiscal year 2023-24 alone. This surge in land allocation not only benefits investors but also strengthens UPSIDA’s financial standing.
Moreover, UPSIDA’s transparent land allocation processes, conducted through e-auctions and Nivesh Mitra, have garnered the trust of investors, resulting in the allotment of a record number of over 1600 plots in the last three years.
In alignment with the state’s focus on digitization for economic advancement, UPSIDA has expanded its online e-services through Nivesh Mitra, disposing of more than 31,000 applications with a satisfaction rate of 96 percent.
Additionally, the authority has championed the development of women-centric facilities such as Pink Toilets and Pink Dormitories under initiatives like Atal Industrial Infrastructure Mission (AIIM) and Secure Industrial Zone Projects, aimed at promoting skill development and enhancing women’s participation in the industrial workforce.
The establishment of Citizen Facilitation Centers further underscores UPSIDA’s commitment to providing immediate and satisfactory solutions to the queries of investors and entrepreneurs, contributing to Uttar Pradesh’s emergence as a beacon of industrial development in the country.