The Yamuna Expressway Industrial Development Authority (YEIDA) had invited applications from industries to set up manufacturing units on 1,050 acres it had earmarked in the area. The state government agency had offered plots of different sizes and shortlisted 2,290 applications.
“We have received more applications than the number of plots available and we expect a total investment of Rs 28,000 crore to Rs 30,000 crore,” YEIDA chief executive Arun Vir Singh said.
The authority has allotted 108 plots to domestic toy manufacturers to set up units near the upcoming airport in Greater Noida.
Currently, imports from China and Taiwan account for around 90% of the domestic toy market and toy associations have been pushing the government for land to set up local manufacturing facilities.
Leading domestic toy manufacturers including FunZoo, Ankit Toys, Toy Treasurers and Funride had applied for plots.
The authority has estimated that 25,000 jobs will be created once the toy manufacturing hub becomes operational.
“With the signing of concession agreement of the Jewar airport, we expect more interest in subsequent schemes,” said Shailendra Bhatia, the additional chief executive officer of the Yamuna Authority.
Of the 700 allotments, 63 have been done in the startup category.
The authority had received about 2,700 applications for plots in a scheme for apparel and handicraft units and MSMEs, and allotted about 600 plots on Friday.
The units that come up in the area are expected to create around 700,000 jobs.