In a bid to attract foreign investment, Uttar Pradesh has managed to reach an agreement with Microsoft, wherein the multinational technology company will set up its campus in Greater Noida, which will have the capacity to accommodate 4,000 employees. An agreement has been signed between the state and Microsoft virtually, and will be followed by a site visit by Microsoft very soon.
Uttar Pradesh has been working on making it more convenient for keen investors to acquire land within a kilometre of the state’s expressways, on either side.
Presently, Microsoft has two headquarters in Hyderabad and Bengaluru, with a capacity of 5,000 and 2,000, respectively. The Company had expressed a desire to relocate its campus in North India, to Greater Noida. Officials from Microsoft will be inspecting the site in Greater Noida as well as near the Yamuna Expressway. Once the Company sends a formal proposal, after the site inspection, the state government will examine the same before further action and discussions lead to the setting up of the world class technology hub. Wipro and Tata Consultancy Services are the other big names that will be establishing their presence in the area.
The Government of Uttar Pradesh has been working hard to attract multinational companies, using virtual roadshows. The objective is to draw the attention of companies that are currently fleeing from China, and get them to set up shop in the state.
The state is also planning to establish an electronics manufacturing park near the Jewar International Airport along the Yamuna Expressway, which links Greater Noida to Agra. Organisations looking at establishing manufacturing units will benefit from the additional subsidies and incentives being offered by the state.