In the unprecedented COVID-19 pandemic, when all the countries of the world are suffering from recession, Uttar Pradesh has become the first choice of foreign investors. During the COVID-19 period, 57 national and foreign companies have tied up with the UP government for investment of Rs 46,501 crore. It is estimated that after the start of production in these companies in the state, direct and indirect employment opportunities will be available to millions of people.
Chief Minister Yogi Adityanath started working on a strategy to bring back the lost status of Uttar Pradesh ever since he assumed power in the state. He first organised a national level Investors’ Summit for domestic and foreign companies. This was followed by the first and second groundbreaking ceremonies. The result of this strategy of the chief minister is now noticeable on the surface.
Twenty-eight foreign companies have expressed intent to make an investment of Rs 9,357 crore in the state during the COVID-19 period. It has a German shoe making company that has shifted from China to India and started production in Agra with an investment of 300 crore. Apart from this, 29 domestic companies have tied up to invest Rs 37,144 crore.
While two companies of Canada will be investing Rs 1,476 crore in UP, four companies of Germany will be investing Rs 300 crore. In addition, seven companies of Japan will be investing Rs 2000 crore, five companies of the United States of America will be investing Rs 309 crore, and four companies of Korea will be investing Rs 928 crore. Besides, three companies of the United Kingdom will be investing Rs 1,375 crore, two companies of Singapore will invest Rs 16,000 crore and one company of Hong Kong will be investing Rs 1,000 crore.
It may be mentioned that due to the various reforms in the labour laws and formulation of policies of various departments, UP has obtained second rank in ease of doing business and has become the first choice of entrepreneurs.
As many as 800 plots have been allotted to entrepreneurs during the COVID-19 times. In addition, a dedicated medical equipment park is proposed on 3.5 acre of land in Sector 28 along the Yamuna Expressway for which a MoU has been signed. The chief minister has also issued instructions for giving physical possession of land to the entrepreneurs within two months so that they can start production as soon as possible`
