Expanding Horizons: Foreign Investment Fuels Employment Opportunities and Economic Prosperity
In a landmark move towards industrial expansion, the Yamuna Industrial Development Authority (YEIDA) has announced the establishment of four foreign mobile phone manufacturing companies in Sector-10 of Greater Noida. This strategic initiative, undertaken as part of the EMC 2.0 scheme, aims to transform the region into a burgeoning hub for mobile production, with plans to double the initially proposed 100-acre setup.
Key Details of the Mobile Manufacturing Hub:
- YEIDA’s Vision:
- The decision to establish mobile manufacturing units in Sector-10 was finalized during a board meeting held in March. Dr. Arun Veer Singh, CEO of the Yamuna Authority, emphasized the transformative potential of this initiative, heralding a new era of industrial growth and employment generation.
- Sector-10 Development:
- Sector-10 in YEIDA City is undergoing rapid industrial development, with plans for the establishment of five industrial parks. The expansion of the EMC area to 200 acres reflects YEIDA’s commitment to fostering a conducive environment for industrial innovation and investment.
- Land Acquisition and Compensation:
- The acquisition process encompasses 243.96 hectares of land from villages including Myana, Aakalpur, and Maksudpur. A substantial sum of Rs. 681 crore has been disbursed to farmers as compensation, facilitating the smooth transition of land for industrial use.
- Diversified Industrial Parks:
- The development of Sector-10 encompasses a diverse range of industrial parks, including those dedicated to leather, electric vehicles (EV), handicrafts, semiconductors, and plastics. This holistic approach aims to cater to various sectors, fostering comprehensive industrial growth.
- Technological Advancements and National Contribution:
- With the inclusion of foreign mobile phone manufacturing companies, Greater Noida is poised to contribute significantly to India’s technological and industrial landscape. The establishment of state-of-the-art mobile units not only augments local employment but also positions the region as a frontrunner in the country’s manufacturing sector.
YEIDA’s proactive approach towards industrial expansion underscores its commitment to fostering economic prosperity and technological advancement in the Greater Noida region. As the mobile manufacturing hub takes shape in Sector-10, it heralds a new era of growth, innovation, and opportunity for both the local populace and the nation at large.
