Uttar Pradesh gets over 17,000 crore foreign investment proposals amid COVID: Officials

Overall, the state got 96 investment intents, including proposals from domestic as well as foreign entities, since April 2020 worth around ₹66,000 crore



Uttar Pradesh has received foreign investment intents worth over ₹17,000 crore from various companies during the COVID-19 pandemic, government officials said on Thursday.


Overall, the state got 96 investment intents, including proposals from domestic as well as foreign entities, since April 2020 worth around ₹66,000 crore, they said.


UP Industries Minister Satish Mahana said the foreign investors include some big-ticket projects from countries like the US, the UK, South Korea, Japan, France and Germany.


The Cabinet minister, while speaking to a group of journalists, credited the BJP government's “pro-industry" policies for helping the state reach the second rank in the country in terms of ease of doing business.


UP's Industrial and Infrastructure Development Commissioner Sanjiv Kumar Mittal said, “Overall, we have got (foreign) investment intent worth ₹17,231 crore that we are pursuing."


Asked about investments during the pandemic, which started March last year, minister Mahana said, “Uttar Pradesh got investments from companies within the country as well as from outside. There are several companies that have shown interest, have got land and started their work also."


He said problems of law and order, power supply and government support that were there earlier in the state have been overcome in the Yogi Adityanath-led regime.


Talking about foreign investments during the ongoing pandemic period, Mittal said there have been 24 foreign units which have shown interest in establishing business in the state.


“Of these, 22 units are valued at more than 100 crore and the investment intent they have shown is ₹16,653 crore. The other two units, which are valued at less than ₹100 crore each, have shown investment intent of ₹78 crore," Mittal said.


Mahana said these foreign companies will be setting up projects in different parts of UP like Chitrakoot and Barabanki in the east, while Noida and Agra in the western part of the state.


Source: https://www.livemint.com/news/india/uttar-pradesh-gets-over-rs-17-000-crore-foreign-investment-proposals-amid-covid-officials-11625153604571.html

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