Up Cabinet Approved Up Aerospace And Defense Unit And Employment Promotion Policy – Amar Ujala Hindi News Live
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CM Yogi addressing the media after the cabinet meeting in Prayagraj. – Photo : amar ujala
Expansion
A new policy has been approved in the Mahakumbh Cabinet to make Uttar Pradesh the biggest center of aerospace and defense sector. Under UP Aerospace and Defense Unit and Employment Promotion Policy-2024, a target of investment of Rs 50 thousand crore has been set. After the implementation of this policy, one lakh youth of the state will get direct employment.
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Chief Minister Yogi Adityanath intends to make Uttar Pradesh a leading aerospace and defense hub. This will give impetus to indigenous capabilities and innovation along with national security and economic prosperity. The new policy aims to empower the aerospace and defense (A&D) sector in UP. Under this, a strong, world-class, hi-tech manufacturing environment is to be created in the UP Defense Industrial Corridor. Startups and investments will also be attracted to develop a state-of-the-art centre.
Aerospace and defence-based common facility centers will be created in the Defense Corridor for skill and capacity development of startups and MSMEs. Attracting major defense projects and public undertakings in the state, promoting research are also part of this policy.
AI and software development centers will also be built
Through this policy, Artificial Intelligence and software development centers will be created in the A&D sector. Under this policy, front end subsidy will also be given to A&D sector units. In this, land subsidy, stamp duty exemption and capital subsidy will also be given. Besides, the state government will also provide facilities like discount on transport charges. Women entrepreneurs will be given great relief through this policy.
Target to double aerospace and defense production
The Defense Ministry has set a target of doubling aerospace and defense production in the country to $25 billion and exports to $5 billion by 2025-26. It is believed that by 2047, the aerospace and defense manufacturing sector will contribute 25 percent to the country’s gross domestic product. In view of this, the Defense Ministry has established two defense industrial corridors in the country in Uttar Pradesh and Tamil Nadu.
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