After receiving investment offers totaling nearly Rs 34 trillion at the 2023 Uttar Pradesh Global Investors Summit (GIS), the state of Uttar Pradesh has begun the process of acquiring land for allocation to the industry.

Mayur Maheshwari, Chief Executive Officer of UPSIDA, has sent letters to all district magistrates asking for details on "gram sabha" land and the effective circle rate under their jurisdiction.

In addition to state and county roads, the gram sabha property would be purchased near highways for the development of greenfield industrial centers.

In Phase I, the UP State Industrial Development Authority (UPSIDA) plans to add 7,000 acres to its existing 15,000 acres of land inventory. The total amount of land suitable for industrial use would then be 22,000 hectares.

In the meantime, the authority has encouraged the state government to provide land for reallocation currently held by ailing state industrial entities and semi-state government, including spinning mills. The process of auctioning the available land to individual investors has already begun by UPSIDA.

To accommodate the more than 19,000 GIS projects, the state is expected to need 30,000 acres of land.