(ET)
The Yogi Adityanath government plans to modify its policy for the upcoming ‘defence corridor’ to make arms, ammunition and explosives manufacturing eligible for incentives and attract small and medium enterprises as well as foreign and domestic investors seeking to meet their offset obligations.
The foundation stone of the corridor, a project of UP government and the Centre, was laid by PM Narendra Modi in February and is set to come up on over 5,000 hectares around the six nodes of Lucknow, Kanpur, Agra, Aligarh, Jhansi and Chitrakoot.
Investments worth Rs 4,000 crore have already been received and the project is expected to attract Rs 20,000 crore. The UP government’s proposed changes to its Defence Policy-2018 take a leaf out of the policies of Gujarat and Tamil Nadu.
