New Delhi: Raksha Mantri Smt Nirmala Sitharaman addressed the plenary session on ‘Defence and Aerospace : Investment opportunities in Uttar Pradesh’ at Investors Summit- 2018 in Lucknow, today.
While addressing the plenary session on the second day of the Investors Summit 2018, she said that Uttar Pradesh Defence Industrial Corridor is proposed in a stretch between Aligarh, Agra, Jhansi, Chitrakoot and it also includes Kanpur and Lucknow. The Defence Corridor in UP will leverage the existing ordnance factories and defence PSU establishments in UP.
Highlighting the benefits of the Defence Industrial Corridor Smt Sitharaman stated that Bundelkhand will benefit from the six-lane highway which the UP Government has proposed to build up from Chitrakoot to Jhansi and will provide necessary infrastructural support for investment units in India. She said that the initiatives of Ministry of Defence to promote industry investment in Defence Production will also provide impetus to the Defence Corridor. She added that the MoD will, apart from taking steps to promote private investment, set up infrastructure for blast testing of arms and ammunition in the proposed corridor.
Raksha Mantri stated that the low cost of land and low wage rate with adequate supply of manpower will be an attraction of the UP Defence Industrial Corridor. It will serve as an engine for economic development and growth of regions of UP, especially Bundelkhand region.
The Finance Minister in his Budget 2018 speech has announced setting up of two Defence Industrial Corridors in the country. The Prime Minister during the inaugural address of Investors Summit 2018 had announced that a Defence Industrial Corridor will be set up in Uttar Pradesh (UP).
Present at the occasion were Chief Minister of Uttar Pradesh Shri Yogi Adityanath, Minister for Industrial Development, Government of Uttar Pradesh, Shri Satish Mahana and Minister of Tourism, Government of Uttar Pradesh, Smt Rita Bahuguna Joshi and various other officials and dignitaries
