Chapter 2 - Noida Authority Online

? With a fast emerging middle class of nearly 15 million people, it is one ofthe largest untapped markets available to industry.? Availability of Large, inexpensive and disciplined labour force available? UP has more than 0.69 million industrial units in operation out of which2616 are large and medium sized units providing employment to around 2.9million people.? UP is the home to not only the traditional industries like Brass ware Carpets,Perfumes, Silk, Hand looms, and Handicraft but also the modern industrieslike electronics, software and automobiles. etc.Though, basically an agrarian economy (agriculture accounting for 54 % of theState Domestic Product, state has made strides in the Industrial SectorOpportunities in the agricultural sector are fast shrinking and Industry provides thedesired channels for overall economic growth, much needed revenues fordevelopmental programmes and employment generation.UP state is now emerging as major destination for investors both Indian and foreign.It has attracted the 3 highest number of industrial Entrepreneur memorandums andthe 5 highest letter of intents. The state has 379 numbers of projects worth Rs.649.80 billion (Approx. US$13 Bn) under various stages of implementation. Theseprojects account for 4% of the fatal country's proposed investment in variousprojects.The table below summarised the distribution of investment proposed announced andunder implementation) in UP and their relative share in India.