NOIDA - A PLACE OF REPUTATION

By Prateek Kumar

With a large number of manufacturing units and IT-BPO companies, Noida is fast emerging as a major industrial hub

With a huge consumer market, quality workforce and high infrastructure growth, Noida is increasingly being touted as a major destination for industrial growth. New Okhla Industrial Development Authority, popularly known as Noida, houses about 12,000 registered manufacturing units and a large number of IT and BPO firms. Noida was set up in 1976 with a view to develop an integrated industrial township to promote economic growth.

Noida Export Processing Zone (NEPZ) has a large number of units in sectors such as electronics, textiles, engineering and computer software. It recorded a turnover of over Rs 846 crore last year. Realising Noida’s potential, many reputed industrial houses and corporates are making huge investments in the city. The city is also on its way to have Asia’s first bio-tech university.

The city has close to 7,10,000 square metre land reserved for the development of industries and currently it has around 6014 manufacturing units. With an investment of about Rs 12710 crore, these industries provide employment to over 94736 people.

Moreover, with the presence of Noida Software Technology Park (STP), ranked second in the country in terms of export turnover, and Infotech Park (ITP) on 100 acres of land, the city is now at the centre of IT revolution. Major IT companies like EXL Services, Steria, HCL and TCS have already started operations in the city.

Noida has also become the preferred choice for many MNCs to set up their headquarters. With more and more investments pouring in for the IT & ITeS industry, the demand for residential property in Noida is also rising. About 35% of the city area is being developed for residents, while the remaining has been reserved for group housing projects, providing significant opportunity for investments in real estate.

Big realtors like DLF, Omaxe, TDI and Ambience Group are also betting big on the city to beat the slowdown blues. Though the global slowdown has pushed investors to the corner, the demand is still strong in the city.

Industry experts say that the city may attract foreign direct investment (FDI) worth Rs 30,000 crore in the coming years. The Noida board has recently approved a series of projects meant for strengthening infrastructure in the city including construction of underpasses, flyovers, amusement parks and enhancing the security infrastructure.

Owing to its proximity to the Commonwealth Games venue, the city has attracted attention from the Central government also. To improve transport facilities between Delhi and Noida, the city has been brought under the Delhi metro rail project.