The Yogi Adityanath government is gearing up to launch a new scheme aimed at promoting the aviation industry in the state of Uttar Pradesh.
The Yogi Adityanath government in Uttar Pradesh is set to unveil a new scheme this month, aiming to transform Noida into the aviation hub of the state. The state government has allocated 1000 acres of land near Noida International Airport Limited (NIAL) in Jewar for this ambitious project.
Under this initiative, infrastructure for assembling and manufacturing aircraft parts, as well as complete airplanes, will be established. Several Indian companies, alongside international counterparts from countries such as the United States, are expected to establish their manufacturing units in the designated area.
Arunvir Singh, the CEO of the Yamuna Expressway Industrial Development Authority (YEIDA), confirmed that the process of acquiring 1,365 hectares of land in the second phase of the Noida International Airport is underway. This area will be developed into a Maintenance Repair and Overhaul (MRO) facility and an Aviation Hub, with individual units set to occupy five-acre plots, and larger plots also available for development.
The scheme is designed to attract companies involved in aircraft assembly, engine manufacturing, nozzle production, and other aircraft equipment manufacturing. The state cabinet recently issued a Foreign Direct Investment (FDI) policy, offering substantial benefits to foreign companies participating in the initiative.
According to the policy, foreign companies will receive a 75 percent land subsidy, capital subsidies of up to ₹100 crore, 100 percent reimbursement of state Goods and Services Tax (GST) for a period of 10 years, and financial support of ₹5,000 for seven years for up to 500 individuals engaged in patenting, training, and skill development. Additionally, customs exemptions will be granted for the import of equipment from foreign countries, encouraging robust growth and development within the aviation industry in Noida.