UP Cabinet Approves Robotics And AI Park In Greater Noida, To Generate Over 1 Lakh Jobs

Lucknow, Oct 28 (KNN) The Uttar Pradesh Cabinet on Tuesday approved the establishment of a robotics and artificial intelligence (AI) park spread across 69.52 acres in Greater Noida, with the project expected to generate more than one lakh direct and indirect jobs and contribute around Rs 2,000 crore annually to the state’s economy.

The park, named PRAGATI (Platform for Robotics and AI Growth Through Technology and Innovation), aims to promote indigenous robotics manufacturing, accelerate AI-based technology development and create an ecosystem for investment, research and industrial innovation.

“In a major step towards establishing Uttar Pradesh as a leading hub for advanced technology, industrial innovation and robotics manufacturing, the Cabinet, chaired by Chief Minister Yogi Adityanath, on Tuesday approved a proposal to set up PRAGATI Park in Greater Noida,” the state government said in an official statement.

State Finance Minister Suresh Kumar Khanna said the project would provide integrated facilities for robotics companies, technology start-ups, research institutions and industries, reported The Hindu.

At full scale, the project is expected to generate more than one lakh direct and indirect jobs and contribute an annual gross value added (GVA) of approximately Rs 2,000 crore to the state economy, he said.

Park To Be Developed In Two Zones

The PRAGATI Park will be developed in two zones, with separate arrangements for infrastructure development and private investment.

Zone 1 will cover eight acres and will be developed and operated through a special purpose vehicle (SPV) under the public-private partnership (PPP) model. The Greater Noida Authority will hold a 26 per cent equity stake in the SPV, while the selected industrial partner will hold the remaining 74 per cent.

Zone 2 will cover 61.52 acres and will be reserved for private enterprises to develop industrial units and undertake related activities. The state government will have no capital liability for the development of this zone, according to the statement.

Rs 126.2 Crore Interest-Free Loan For Zone 1

The Greater Noida Authority will contribute Rs 21.1 crore in equity towards the development of Zone 1.

In addition, the state government will provide an interest-free loan of Rs 126.2 crore for 30 years. The lease premium for the eight-acre plot will be reimbursed to the authority through the state government's IT and Electronics Department.

For Zone 2, the SPV will receive a service fee equivalent to 5 per cent of the revenue generated from land allotment development charges, along with applicable Goods and Services Tax (GST).

Focus On Robotics Manufacturing And AI Innovation

The project is intended to strengthen Uttar Pradesh's advanced technology ecosystem by supporting domestic robotics manufacturing and the development of AI-based technologies.

By bringing companies, start-ups, research institutions and industrial facilities together, the park is expected to encourage investment and research in the robotics sector while expanding employment opportunities in the state.

(KNN Bureau)