Virendra Singh Rawat
Lucknow / Nov 2, 2020
Uttar Pradesh government has garnered investment proposals worth nearly Rs 7,000 crore from foreign companies and investors during the lockdown period.
These investment proposals have come from offshore companies based out of nearly 10 countries/regions, including USA, Germany, Canada, Hong Kong, United Kingdom, Japan, Singapore, South Korea etc.
These prospective investments pertain to different sectors and segments viz. integrated food processing, electronic manufacturing, ethanol, software development, footwear manufacturing, intermediate food products, granaries, steel, power plants, IT infra etc. Most of these proposals relate to investments in the National Capital Region (NCR) comprising Greater Noida, Noida etc.
To boost investment prospects during the pandemic and to cash in on the ongoing US-China trade war, following which global corporations have reportedly been exploring the options to shift their manufacturing and supply chains out of China, the Yogi Adityanath government had set up country specific helpdesks to interact with the foreign investors and showcase UP as an ideal investment destination.
Such interactions with the foreign industrialists and industry chambers were led by UP industrial development minister Satish Mahana and UP micro, small and medium enterprises (MSME) and export promotion minister Sidharth Nath Singh.
The country specific helpdesks were set up in May 2020 to facilitate investment from top countries, such as USA, South Korea, Japan etc, and were part of the slew of measures taken by the Yogi government to reboot the economic and industries activities post-lockdown.
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