Noida-Meerut to become Shenzen of India
Mobile brands such as Oppo have set up their manufacturing units in the region.
Mobile brands such as Oppo have set up their manufacturing units in the region.
Brief:
Hindu Businesslines reports that Government aims to make Noida and Meerut into the export hub for electronics.
22 projects worth INR 10,500 crore were approved in Uttar Pradesh (Noida, Greater Noida) under the Modified Special Incentive Package Scheme (M-SIPS) programme.
How does it matter for NCR?
Out of 268 mobile phones and components manufacturing units in the country, 94 facilities are in Noida and Greater Noida.
Tegna Electronics is a special purpose vehicle (SPV), which will set up a cluster to attract investments worth INR 3,500 crore over the next 5–10 years.
These units will manufacture products such as point of sales (PoS) systems, power banks, AC adapters, USB, SSD and memory cards.
It will generate employment opportunities for around 30,000 people and indirect employment for around one lakh.
What is the bigger picture?
Information Technology, Startups and ITES wave had bypassed Noida- Greater Noida, and moved towards Delhi and Gurgaon. Real estate firms have gone bankrupt.
Upcoming cluster will lift the local economy, and have its ripple effect on other industries.