Aiming at enhancing air connectivity and bolstering economic growth, the Uttar Pradesh government has earmarked a substantial sum of INR 1,150 crore for the development of the Noida International Airport in Gautam Buddha Nagar. The announcement, made by UP’s Finance Minister Suresh Kumar Khanna during the budget presentation in the state assembly on Monday, reflects the government’s commitment to infrastructure development and fostering a conducive business environment.
This allocation underscores the strategic importance of the Noida International Airport, poised to become a major aviation hub. The funds will be instrumental in advancing construction, technology integration, and operational capabilities, paving the way for enhanced air travel services in the region.
Notably, the airport is set to feature an expansive 87-acre cargo hub, catering to the growing demands of the logistics and supply chain industry. This development aligns with the broader vision of transforming the airport into a comprehensive logistics center, promoting seamless movement of goods and contributing to supply chain efficiency.
The Noida International Airport is set to have the country’s largest multimodal cargo hub by 2024 and AISATS, which was selected by the Yamuna International Airport Private Limited (YIAPL) to design, build, finance, and operate the project, has commenced the work to build the integrated multimodal cargo hub at the Airport. The first phase of the cargo terminal will see an investment of INR 1,200 crore, out of which INR 456 crore has already been invested so far, a senior official from the state government indicated.
Beyond the allocation for Noida International Airport, the 2024-25 budget carries several provisions benefiting the supply chain industry:
Infrastructure Investments: The budget allocates substantial funds for overall infrastructure development, including roads and transportation networks. Improved infrastructure is pivotal for the smooth functioning of supply chains, facilitating faster and more efficient movement of goods.
Technology Integration: Emphasis on technology adoption, including digital tracking and automation, is evident in the budget. Such advancements are instrumental in streamlining supply chain processes, reducing costs, and enhancing overall efficiency.
Skill Development Initiatives: The budget underscores the importance of skilled workforce development, particularly in the logistics and supply chain sectors. Training programs and skill enhancement initiatives aim to create a robust talent pool, essential for the industry’s sustained growth.
The Uttar Pradesh Budget for 2024-25 reflects a comprehensive approach to bolstering infrastructure and supporting the logistics and supply chain industry. The substantial allocation for Noida International Airport, coupled with broader initiatives, positions the state to become a hub for seamless logistics operations and economic growth.
Logistics Insider Magazine: February issue 2024 (Digital issue)