The Yamuna Expressway Industrial Development Authority (YEIDA) has taken a major step to establish a dedicated technology zone in Noida. The authority has earmarked approximately 500 acres of land in Sector 11 to develop a specialized hub for artificial intelligence (AI) and financial services companies. This initiative is a key part of a broader strategy to position the Yamuna City area as a prime technology-driven growth corridor.
Land Acquisition Complete, Focus Shifts to Attracting Investment
Officials confirmed that the land acquisition process for the majority of the earmarked area is now complete. With the land bank secured, YEIDA's immediate focus is shifting towards attracting companies to set up operations. The authority plans to shortly invite Expressions of Interest (EOI) from domestic and international firms interested in being part of this new hub.
The sector is not limited to just AI and core financial services. The development plan also includes allotment for:
- Data centre companies
- Firms specializing in banking technology (fintech)
- Companies providing stock market services
- Financial software development enterprises
Expert Agency to Design Development and Investment Model
Recognizing the specialized needs of AI-based industries, which require robust physical infrastructure, advanced computing, and large data volumes, YEIDA will appoint an expert agency. This agency will be tasked with preparing a detailed development and investment model for the entire sector.
The agency's responsibilities will include planning the necessary infrastructure, suggesting a viable implementation framework, and actively assisting in outreach to attract companies and investments. While YEIDA will handle land provisioning and regulatory support, the appointed agency will focus on execution and industry engagement.
To select this partner, YEIDA will issue a separate EOI, seeking proposals from firms with proven experience in developing large-scale technology or financial hubs. Proposals will be evaluated based on technical capability, development strategy, and a demonstrated ability to bring in companies and capital.
A Long-Term Vision for Yamuna Expressway Corridor
YEIDA's CEO, RK Singh, emphasized that this project is a long-term initiative. It is designed to complement other industrial, institutional, and technology-led developments emerging along the Yamuna Expressway corridor. The move aligns with the Uttar Pradesh state government's emphasis on promoting AI-based industries in the Gautam Buddh Nagar district.
This dedicated hub is expected to create a significant cluster effect, fostering innovation, generating high-skilled employment, and solidifying the region's reputation as a leading destination for cutting-edge technology and financial services in India.
