Uttar Pradesh accords industry status to warehousing and logistics

New Delhi: Uttar Pradesh will now give industry status to warehousing & logistics sector, something which will drastically lower the costof setting up warehouses and give a huge boost sector in the state.

Thus, for setting up a warehousing space after buying agricultural land will become much cheaper. The current change of land use costs 150 percent of circle rate of land from agriculture use to commercial use. But now with industry status, change of land use for warehousing space will be done at just 35 percent of the circle rate. There will be several such benefits for setting up warehousing spaces now.

In a statement, the Uttar Pradesh government said that the move will benefit the migrant labourers returning to the state from metropolitans as there will be requirement of manpower for the new warehousing spaces that will be set up in the state.

Locations in Uttar Pradesh close to Delhi will greatly benefit with this move. The land price for setting up warehousing spaces in the state is expected to be reduced by two-thirds now.

With this change, the state can attract lot of investment in the sector and emerge as a major state in the country for logistics activity. The move will also benefit factories and manufacturing units that are being set up in the state.