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28 foreign companies set to make investments worth over 9000 crores in Uttar Pradesh

In order to kickstart all the projects at the earliest, CM Yogi has given orders to give possession of allotted lands to entrepreneurs within two months.

While markets worldwide are reeling from the effects of the Wuhan virus pandemic, over twenty foreign companies are eyeing Uttar Pradesh to make investments worth over Rs 9000 crores. According to a government spokesperson, 57 domestic and foreign companies have signed agreements for investments worth Rs 46,501 crores with the state government. Out of these companies, 28 foreign companies have signed contracts worth Rs 9357 crores with the Yogi government. 29 domestic companies have made agreements worth Rs 37,441 crore.

According to reports, a footwear manufacturing company shifted to the state from China and is currently manufacturing in Agra after an investment of Rs 300 crore. The state government has allotted a total of 850 plots to entrepreneurs during the pandemic period. Around 350-acre land has been allotted in sector 28 near Yamuna Expressway for the proposed Dedicated Medical Device Park. An MoU has been signed with Kalam Institute of Health Technology to prepare a detailed project report for the park. In order to kickstart all the projects at the earliest, CM Yogi has given orders to give possession of allotted lands to entrepreneurs within two months. Besides, the state government has adopted various measures to attract investment including amendment in labour laws.

Here are the details of companies and investments made by them in Uttar Pradesh:

  • Two Canada-based companies to invest Rs 1746 crores.
  • Four Germany-based companies to invest Rs 300 crore.
  • One Hong Kong-based company to invest Rs 1000 crore in the state.
  • Seven Japanese companies have signed contracts worth Rs 2000 crore with the state government.
  • Two Singapore-based companies to invest Rs 1600 crore.
  • Three UK-based companies to invest Rs 1375 crore in the state.
  • Five companies from the USA to invest Rs 309 crore in the state.
  • Four Korean companies have signed contracts worth Rs 928 crore with the state government.

CM Yogi seems to be making every possible move to attract companies to invest in the state so that maximum employment can be generated. Migrants workers from various states including Uttar Pradesh and Bihar were severely hit by the pandemic. The Uttar Pradesh Chief Minister had formed a commission in May this to employ the people who have returned to the state due to the Coronavirus lockdown. CM Yogi had also signed MoUs with industry associations to generate around 9.5 lakh jobs.

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OpIndia Staffhttps://www.opindia.com
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