Warehousing, logistics get industrial status in UP
Lucknow, May 13 (IANS) The Yogi Adityanath government in Uttar Pradesh has decided to accord ”industry” status to warehousing and logistics sector in the state. This will reduce the cost of setting up of parks and units in this sector by a good margin.
According to an official release issued by Udyog Bandhu, the chief minister has approved the proposal as this sector had immense potential to create job opportunities that are required to address the employment creation for migrant labourers returning from other states due to the COVID-19 lockdown.
He said, “By granting industry status to the sector, the state is on its way to establish itself as a favorable destination for investments in the sector in northern India.”
Industrial Development Commissioner, Alok Tandon said that this will drastically lower the cost of setting up units in Uttar Pradesh.
For instance, presently change of land use is charged at 150 per cent of circle rate from agriculture to commercial land use, which will now become only 35 per cent of circle rate as agriculture to industrial land-use change will be applicable.
Elaborating on the new initiative, Alok Kumar, principal secretary, Industrial Development, said that henceforth, activities of warehousing and logistics parks and units will be allowed for land-use of ”industrial land” of all industrial development authorities of the state in accordance with the provision of ”U.P. Warehousing & Logistics Policy-2018”.
“Now warehousing and logistics units will pay 1.5 times of the industrial rate to industrial development authorities for allotment and land use of areas reserved for industrial activity, which will enable substantial cost saving compared to existing costs of establishing units.
The land costs will be reduced to almost one-third.
The state government has issued orders to all industrial development authorities to adopt this provision by amending their master plans and building by-laws immediately.
The decision is likely to attract investments supporting the various projects of the state such as Jewar Airport, Inland waterway, Multi modal transport & logistics hub, etc.
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: IANS