UK firms may invest in UP’s Defence Corridor

| | Lucknow
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UK firms may invest in UP’s Defence Corridor

Sunday, 01 December 2019 | PNS | Lucknow

British arms and defence firms are likely to invest in the proposed mega defence industrial corridor in Uttar Pradesh. The British firms are also interested in forging trade alliances with their Indian partners for setting up manufacturing units in the corridor.

A five-member delegation led by director of UK-based Defence and Security Organisation (DSO), Mark Goldsack, held a meeting with Industrial Development Minister Satish Mahana  this week and evinced interest in making investments in the defence industrial corridor.

Goldsack also discussed participation of UK defence and arms companies in the 11th national Defence Expo to be held in Lucknow from February 5 to 8 in 2020.

During his visit to the UK in March this year, Mahana had met Goldsack and invited him to visit Uttar Pradesh for the Defence Corridor and Defence Expo.

Ater the meeting, the Industrial Development Minister said that the state government welcomed UK companies to invest in the defence manufacturing sector and promised to extend all cooperation and incentives, including land, trained manpower and local supply support.

Mahana said that the UP government had drafted a new Defence Manufacturing Policy which would be tabled before the cabinet soon and was likely to be implemented before the Defence Expo.

The new policy aims at providing a major fillip to the proposed defence industrial corridor.

The DSO helps the UK defence and security industry in achieving export success by building relationships with overseas governments, raising awareness of UK industry capabilities and coordinating government support for export opportunities in established and developing markets.

Top defence manufacturers in the US, Russia, Australia, Israel, Germany etc. are expected to participate in the Defence Expo in Lucknow on the initiative of Defence Minister Rajnath Singh, who represents Lucknow constituency in the Lok Sabha.

On Thursday, Chief Minister Yogi Adityanath had chaired a meeting to review the preparations for the Defence Expo for attracting big private investment by showcasing the Defence Corridor to Indian and foreign companies.

The Defence Corridor is estimated to attract investments to the tune of Rs 20,000 crore and spans six nodes — Aligarh, Agra, Jhansi, Kanpur, Lucknow and Chitrakoot. It also aims at energising the existing public and private sector defence and allied industries operating along the nodes.

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