Lucknow will be developed as India's first Artificial Intelligence city. The government of Uttar Pradesh has approved the development of Lucknow, the state capital, as an AI city, establishing the "city of nawabs" as the nation's newest IT hub.
By 2030, it is expected to contribute $15.7 trillion to the global economy. To put that into perspective, it is about three times the production of the world's top three economies combined or nearly five times India's current output. It is anticipated to raise India's GDP by about $500 billion by 2025.
Centers of Excellence in fields such as AI and MedTech (with deep AI integration) are located in Lucknow. More than fifteen AI/ML start-ups are supported by the AI COE (located in IIIT Lucknow), nurturing a culture of creativity and entrepreneurship.
The real estate developer plans to create a tower with Grade A office space for corporates, start-ups, and incubators, as well as office infrastructure built on plug-and-play technology.
The IT and Electronics Department has selected possible land parcels in strategic Lucknow sites for the establishment of AI City as part of the project. In this regard, a 40-acre land parcel owned by the Department of IT and Electronics has been designated as a possible AI City development site. The land is in a prime location in the Nadarganj Industrial Area, about 3 km from the Lucknow International Airport.
According to the EoI document, the developer will receive financial support in the form of alluring financial incentives, such as a one-time capital expenditure support of 25% up to Rs 20 crore for IT Park and Rs 100 crore for IT City, and 100% stamp duty exemption in accordance with the IT and ITeS Policy, 2022.
IT and ITeS have been highlighted as key industries to drive the economy in this direction as part of the UP government's ambition to become a $1 trillion economy in the next five years. With regard to the IT ecosystem, Uttar Pradesh is the sixth-largest state in India. It is also the location of a significant number of start-ups.
