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UP Cabinet approves robotics, AI park in Greater Noida

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UP Cabinet approves robotics, AI park in Greater Noida

Business News Tech AI UP Cabinet approves robotics, AI park in Greater Noida

The Uttar Pradesh Cabinet has approved the establishment of a robotics and AI park in Greater Noida. This park is expected to generate over one lakh jobs and significantly contribute to the state's economy. It will be developed in two zones, focusing on indigenous manufacturing and AI technology advancement. The first zone will operate under a public-private partnership model, aiming for commercial operations within 36 to 48 months.

The Uttar Pradesh Cabinet on Tuesday approved the establishment of a robotics and artificial intelligence (AI) park in Greater Noida spread over 69.52 acres, estimated to generate more than 1 lakh direct and indirect jobs and add Rs 2,000 crore annually to the state's economy at full scale. The proposed platform for Robotics and AI Growth Through Technology and Innovation (PRAGATI) Park aims to promote indigenous robotics manufacturing, accelerate AI-based technology development and create an ecosystem conducive to investment and research in the sector, Finance Minister Suresh Kumar Khanna said while briefing reporters after the Cabinet meeting chaired by Chief Minister Yogi Adityanath. "The park will be developed in two zones. The first zone, spread over eight acres, will be developed and operated through a special purpose vehicle (SPV) under the public-private partnership (PPP) model. The Greater Noida Authority will hold a 26 per cent equity stake in the SPV. On the other hand, the selected industrial partner will hold the remaining 74 per cent," Khanna said.

52 acres and be developed by private enterprises through investments in industrial units and related activities.


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