Greater Noida's upcoming AI, robotics park to create 1L jobs
What's the story
The Uttar Pradesh government has announced plans to set up a state-of-the-art robotics and artificial intelligence (AI) park in Greater Noida. The project, which will be developed on a 69.52-acre site, is expected to create over one lakh direct and indirect jobs. It will also contribute ₹2,000 crore annually to the state's economy at full scale.
Project details
Proposed PRAGATI Park will have 2 zones
The proposed Robotics and AI Growth Through Technology and Innovation (PRAGATI) Park will focus on promoting indigenous robotics manufacturing, fast-tracking AI technology development, and creating an investment-friendly ecosystem.
The park will be developed in two zones: the first one (eight acres) under a public-private partnership model with Greater Noida Authority holding 26% equity stake in the Special Purpose Vehicle (SPV).
Development plan
Investment and financial details
The second zone of the park will span 61.52 acres and be developed by private enterprises through investments in industrial units and related activities.
The state government will have no capital liability for this zone's development.
For the first zone, Greater Noida Authority will contribute ₹21.1 crore as equity while an interest-free loan of ₹126.2 crore will be provided by the state government over 30 years.
Revenue sharing
Next steps for the project
The SPV will also get a service charge of 5% of revenue generated from development charges on land allotments in the second zone, along with applicable GST.
An industrial partner will be selected through a quality-based selection process.
The next steps include registering the SPV, allotting land, signing lease deeds, and carrying out construction work.
Facilities offered
The park will provide shared facilities to start-ups and entrepreneurs
The park will provide shared facilities such as robotics testing and certification centers, rapid prototyping facilities, AI computing infrastructure, motion-capture systems, and data laboratories.
Start-ups and entrepreneurs will have access to advanced testing, prototyping, and GPU-based computing facilities at affordable rates.
The project aims to bolster domestic technology-manufacturing capabilities while reducing import dependence.