UP attracted huge investment during the pandemic

Lucknow, Dec 10 (SocialNews.XYZ) Uttar Pradesh has earned the distinction of attracting an investment of Rs 47,572 crores during the pandemic.

MSME and export promotion minister Sidharth Nath Singh has claimed that UP is the only state to have brought in so much of investment even during the most challenging phase of the pandemic.

"Out of Rs 47,572 crore investments in the state, Rs 37,714 crore came from the domestic side, while remaining from overseas companies which have evinced keen interest in the state's potential in manufacturing, MSME and agriculture sectors. The Yogi government's sector-specific policies also yielded positive results," said the minister who has been leading the state's investment initiative through webinars with global companies, foreign embassies and corporate heads from India and abroad.

The minister asked the additional chief secretary, MSME, Navneet Sehgal, to pursue investment proposals forwarded by overseas companies and foreign embassies by writing to them directly.

He reviewed proposals by industrial houses led by Adani, Tata, Ambanis and Mahindra.

Singh said that the state is getting tremendous response from Canada, which has proposed to invest Rs 1,746 crore, including Rs 1,000 crore around Jewar airport.

Four companies each from Germany and Hong Kong will invest more than Rs 1,000 crores, he added.

He said the government has created an atmosphere for industrial growth and investment and added that UP is ensuring round-the-clock power availability to industrial sector.

Source: IANS