Major brands including Tata Consultancy Services (TCS), Adani Group, furniture major IKEA are some of the big names who have promised major investment in Noida, a move that will spearhead economic development in the region. A report by SURFACES REPORTER.
According to the official data reported by the Noida authority, in the past five years, the investments jumped from Rs 1,184 crore in the 2017-2018 FY to Rs 6745 Cr in FY 2021-22.
Another significant jump is in the land allotment segment. Figures show that during the first tenure of CM Yogi Adityanath, from 2017-2022, the land allotment rose to 200 hectare from the 63 hectare happened during the 2012-2017 period.
Major brands lining up to be in Noida
Figures depict that many big MNCs are lined up to set up base in Noida. For instance, Software giant TCS has promised an investment of Rs 2300 cr in the region along with over 30,000 new jobs and it has been allocated land in sector 157. Similarly, Adani Group who has proposed an investment of over Rs 7200 Cr has been allocated two separate land parcels, i.e., one in Sector 62 measuring over 34,000 sq mt and another in sector 80 measuring 73,421 sq mt.
Swedish furniture-maker IKEA has also proposed an investment of Rs 5,500 Cr and has been given land in Sector 51. Similarly, Microsoft and PayTM have been allotted 60,000 sq mt and 40,000 sq mt of land parcels in sector 145 and 159 respectively. While Microsoft has promised an investment of Rs 1,00 Cr, PayTM has offered to invest Rs 302 Cr.
The state is currently gearing up for another feather in its cap by inaugrating the first data center park in Greater Noida very soon.