Noida set to become hub for Japanese, Korean investment
Sumedha Sharma
Gurugram, February 27
In what could easily rival Gurugram’s evident supremacy in Japanese and Korean investments, the Yamuna Expressway Industrial Development Authority (YEIDA) has decided to designate two sectors in Noida (Gautam Buddh Nagar) district as Japanese and Korean industrial cities. According to the authority’s ambitious plan, companies from the two countries will establish their industrial offices in these cities, alongside residential areas for the foreign workforce.
To cost Rs 2,544 cr
- The Japanese city will be developed in Sector 5A of the expressway, while the Korean will be set up in Sector 4A
- The development of these cities is expected to cost Rs 2,544 crore.
- Sector experts have cautioned the Haryana Government to improve the ease-of-doing business in the state
Host of schemes for medical device park
We are making potential investors aware of the benefits of investing in the region. We aim to attract investors to set up manufacturing units for electronic products & medical equipment. We have a host of schemes for the medical device park and electronics hubs being developed along the Yamuna Expressway near the Noida International Airport site in Jewar. — Arun Vir Singh, CEO, Yamuna Expressway Industrial Development Authority
The Japanese city will be developed in Sector 5A of the expressway, while the Korean city will be established in Sector 4A. The development of these cities is expected to cost Rs 2,544 crore. Speaking about the development of these cities, Arun Vir Singh, CEO of YEIDA, stated that the electronic hubs would have firms manufacturing chips, AI equipment, semiconductors and cameras. “They are being planned to be self-sufficient, with provisions for housing, schools, hospitals and other essential amenities for the Japanese and Korean citizens staying there,” he added.
The announcement and forthcoming plan have prompted sector experts to caution the Haryana Government to enhance its investment attraction efforts and improve the ease-of-doing business, as Noida is emerging as a significant challenge for Gurugram and Bengaluru in terms of tech investments. According to experts, the soon-to-be-inaugurated Jewar airport has transformed the Noida-Greater Noida-Yamuna Expressway (YXP) belt into an investment hotspot.
Even though planes are yet to take flight from Jewar, investments are pouring into the area, with leading IT companies, telecom equipment giants and data centres eyeing this region for their future endeavours. Several IT heavyweights, including HCL, Tech Mahindra and Microsoft, have already established their presence in the area, along with mobile and home appliances manufacturers such as Samsung, Dixon, LG, Oppo, Vivo, Lava and Optiemus.
According to investment consultants, the area’s good infrastructure and easy availability of land, power and other facilities, coupled with the state government’s efficient single-window clearance system, are attracting people here.
“With an airport, it is now the most preferred location. Land is abundantly available and at much cheaper rates compared to Gurugram. Most importantly, the UP Government has introduced better investor-friendly policies. Haryana needs to step up its game, or its shining city Gurugram will soon lose its sheen,” said investment consultant Rajbir Yadav from Noida.
“We are making potential investors aware of the benefits of investing in the region. We aim to attract investors to set up manufacturing units for electronic products as well as medical equipment. We have a host of schemes for the medical device park and electronics hubs being developed along the Yamuna Expressway near the Noida International Airport site in Jewar,” said Arun Vir Singh.
