Industrial growth takes a hit in Noida, Greater Noida
A total of 319 units shut operations during the last financial year, more than 50% up from the figure of 205 a year ago.india Updated: Jan 17, 2012 01:49 IST
The year 2010-11 proved to be a bad year for industrial development in Noida and Greater Noida.
A total of 319 units shut operations during the last financial year, more than 50% up from the figure of 205 a year ago. Also, in 2009-10, a total of 1,610 new units came up. But in the last financial year, only 1,360 units were set up. Poor power supply and deteriorating law and order situation remained the main issues.
Noida or New Okhla Industrial Development Area came into being as an industrial township in 1976, catering to Delhi's commercial needs and addressing its concern over polluting industries. But today, manufacturing clusters make up only a fraction of the city's 203-sq-km landscape.
Of the 6,644 units, the twin cities mainly have industries related to food products, hosiery and garments, paper and printing, basic metal industries, repairing and other services.
Industry bodies cite shift in priority by the authorities as the reason for the slowdown. Farmers are getting a lot of money for their land. Much of the land acquired has been allotted for real estate development.
“Initially, Noida witnessed rapid industrial growth as Delhi banned new units and they had no option but to shift to NCR towns, including Noida,” said general manager of district industry centre Ramesh Chandra.