UP moves to connect with India-ASEAN trade & IMEC

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By Our Special Correspondent

New Delhi, September 29: Claiming that multi-modal cargo hub at Noida International Airport in Jewar will play a vital role to connect Uttar Pradesh with ASEAN countries, the state is hoping to take a slice out of the trade in the proposed India-UAE-Europe Economic Corridor (IMEC).

Chief Minister Yogi Adityanath’ is making a pitch for the state to become a one trillion-dollar economy. AISATS Noida Cargo Terminal Private Limited, a joint venture of Air India and SATS, and its Special Purpose Vehicle (SPV) held the ground breaking ceremony on Friday for the multi-modal cargo hub at Noida International Airport in Jewar.

This state-of-the-art multi-modal cargo hub promises to provide smart, seamless, scalable and secure solutions to the Indian air cargo and logistics supply chain sector. The Integrated Cargo Terminal and Logistics Park being built at Noida International Airport is being personally overseen by the chief minister. “It will not only connect UP with the entire country, but also play an important role in linking ASEAN countries and the proposed India-UAE Europe Economic Corridor,” said the CM office in a media statement.

The company had signed two MoUs worth Rs 5,000 crore with the state government at the Global Investors Summit held in February this year, including one for integrated cargo liner and the other for building a logistics park. In the first phase, the company will invest a total of Rs 1200 crore, out of which Rs 456 crore has been invested so far by the company. The company is aiming to complete this multi-modal cargo hub in time for the opening of Noida International Airport. The multi-modal cargo hub is likely to be inaugurated along with the inauguration of Noida International Airport in 2024.

The multi-model cargo terminal is currently under construction in an area of 37 acres, surpassing any previously constructed terminals in terms of size and capacity. “Through this, the exports of the entire UP will increase manifold,” added the UP CMO.

Furthermore, it will facilitate seamless connectivity between the UP’s Agro market, ODOP, and MSME markets with the global market. “This development will enable people from outside the region to conveniently place orders for goods. Moreover, the ASEAN countries will benefit from this and they will also be able to import products from the UP market through air cargo,” noted the Chief Minister’s Office in a statement.

It also stated that the construction of the economic corridor linking India, UAE, and Europe will deliver substantial benefits. “This corridor will play a pivotal role in facilitating Uttar Pradesh’s connectivity with both the UAE and Europe. In simple words, the cargo terminal will function as a catalyst for Uttar Pradesh’s growth, significantly transforming the state’s status from being landlocked to experiencing multifaceted development. Its positive impact will extend to neighbouring regions including North India, East India and East Asia,” said the CMO.