New Japanese Business Hub near Yamuna Expressway to boost the economy.
The Yamuna Authority plans to create a special area to welcome Japanese companies. This place will cover a big area, about 500 acres, in sectors 10 and 32 near the Yamuna Expressway. It’s like a new home for Japanese businesses.
Japanese companies are interested in investing in electronics, computer chips, and other technology. So, the government has made some rules to make it easier for them to invest here. They will get discounts on land costs and taxes, making them want to set up their businesses here. But this place isn’t just for companies. It will have houses, schools, hospitals, and everything people need. So, Japanese people who work here will feel like they are in their town.
Some people from Japanese companies recently came to check out the area and see if it’s a good place for their businesses. The CEO of YEIDA, Arun Vir Singh, said, “We’ve been talking to these companies for a while, and now, with the new rules, it’s easier to make this special place for them.”
Right now, not many foreign companies invest in this state, just 0.2% of all the money from foreign companies in the country. But this new place will probably change that. They also plan to let people use the land for different things, like factories, houses, and shops.
The government wants to create jobs and help people learn new skills. So, if a company invests at least Rs. 100 crore, they get good deals, like less tax and help with things like housing for their workers. They also don’t have to pay a tax on electricity for five years.
The government will even give money to train 500 people for five years so that they can find good jobs. The Yamuna Authority plans to make another special place where big companies can set up their businesses after November 15.