NIRMAN Bill

Current Context : Uttar Pradesh to establish four special investment regions under new NIRMAN Bill.

• The Uttar Pradesh cabinet approved the Uttar Pradesh Nodal Investment Region for Manufacturing (Construction) Area Bill (NIRMAN)-2024.
• Objective : to attract significant investment and propel the state towards a one trillion-dollar economy.
• The Bill proposes the creation of four Special Investment Regions (SIRs) across the state’s geographical areas, leveraging a 20,000-acre land bank.
• SIRs are envisioned as key investment hubs where cluster development can thrive.
• These regions are designed to facilitate ease of doing business, spur economic growth, and generate employment opportunities.
• Additionally, the cabinet sanctioned an MoU with India Trade Promotion Organisation and MSME to build convention centers in Lucknow and Varanasi.
• This initiative is already in place in Gujarat, Rajasthan, and Karnataka, positioning Uttar Pradesh as the fourth state to adopt such a model.