What Happened
New Initiative Aims to Attract Investment and Strengthen Domestic Supply Chain
The Uttar Pradesh government has introduced the Aerospace and Defence Unit and Employment Promotion Policy, 2024, to attract investment and strengthen the domestic defence and aerospace supply chain. The policy offers various incentives, including concessional land, capital subsidy, and logistics assistance, to aerospace and defence manufacturers, original equipment manufacturers, and suppliers. The initiative is part of the state’s efforts to develop its defence industrial corridor, with six nodes identified as the principal geographical focus. According to Business Standard, the policy aims to create a favourable business environment and promote employment in the sector.