Uttar Pradesh unveils Multi-Modal Logistics Park Policy 2024

Uttar Pradesh unveils Multi-Modal Logistics Park Policy 2024

The Government of Uttar Pradesh has launched the Multi-Modal Logistics Park Policy 2024, aiming to position the state as a leading logistics hub in India. This ambitious initiative focuses on establishing advanced infrastructure to enhance supply chain efficiency, facilitate global connectivity, and support economic growth.

Policy Objectives and Key Features
The Multi-Modal Logistics Park Policy is designed to attract high-value investments and ensure the development of state-of-the-art logistics facilities.

Key elements of the policy include:

Investment Criteria
Minimum Investment Threshold: Projects must entail a minimum investment of Rs 1,000 crore.
Eligibility: Priority is given to companies listed in the Fortune Global 500 or Fortune India 500. Foreign investors are required to bring in at least Rs 100 crore in FDI to qualify.

Financial Incentives
Land Subsidy: 30 per cent subsidy on land allocated by state industrial authorities or other government entities.
Development Fee Waivers: No fees for infrastructure development, with costs borne by the respective authorities.
Stamp Duty Exemption: Complete exemption on land leased for approved projects.

Streamlined Approvals
The policy incorporates a single-window clearance mechanism to simplify the approval process, ensuring efficient and transparent interactions with investors.

Strategic Impact
Economic Development
The logistics park is expected to drive industrial growth, making Uttar Pradesh a preferred destination for industries requiring efficient supply chain solutions.

Employment Opportunities
The initiative will generate extensive employment across sectors, including construction, logistics management, transportation, and warehousing, thus contributing to improved livelihoods and economic upliftment.

Enhanced Trade Efficiency
By integrating road, rail, air, and waterways, the logistics park aims to reduce transportation costs and improve supply chain efficiency, benefiting manufacturers and exporters.

Global Competitiveness
Modern infrastructure and advanced technologies, including automation and AI, will enable Uttar Pradesh to meet global standards, attracting international trade and investment.

Alignment with National Priorities
The policy aligns with the objectives of India’s National Logistics Policy, which targets a reduction in logistics costs from 13–14 per cent of GDP to 8–10 per cent, in line with global benchmarks. With its strategic location and proximity to the Delhi-Mumbai Industrial Corridor, the Ganga Waterways, and national highways, Uttar Pradesh is well-positioned to become a critical logistics hub in northern and eastern India.

Infrastructure and Facilities
The proposed logistics park will include:

Warehousing Solutions: Modern storage facilities catering to various industries.
Cold Chain Infrastructure: Supporting perishable goods, including agricultural and pharmaceutical products.
Dedicated Transport Terminals: Enhancing goods handling and transit.
Technological Integration: Leveraging IoT, automation, and AI for seamless logistics management.

Vision for Growth
The Multi-Modal Logistics Park Policy 2024 is a cornerstone of Uttar Pradesh’s broader economic development strategy. By fostering industrial growth, reducing logistical challenges, and enhancing export capabilities, the state aims to play a pivotal role in achieving India’s $5 trillion economy vision.

This initiative underscores the government’s commitment to creating a business-friendly environment and setting benchmarks for logistics infrastructure nationwide. The project is expected to be completed within five years, delivering transformative benefits and reinforcing Uttar Pradesh’s position as a leader in the logistics sector.

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