With an aim to increase foreign investment in Uttar Pradesh, Industry Minister Satish Mahana asked investors from Singapore to invest in the north Indian state which had emerged as “most sought after investment destination”.
Speaking at a function organised by CII “North woos Singaporean investors’ fraternity” on Tuesday, Mahana said that UP government had accorded the highest priority to the industrial development and growth, which was evident from the fact that during the ground-breaking ceremony in July 2018, projects worth Rs 600 billion were inaugurated after 4 months of their announcements. “Uttar Pradesh also offers excellent investment environment for national and international investors with availability of land, 24x7 access to power and other infrastructure facilities,” he said.
Sharing about the policy framework of Uttar Pradesh, Mahana shared that the industrial investment and employment promotion policy of UP was launched not only to promote the ease of doing business and business-friendly environment but also to provide quality infrastructure for industries to flourish.
“One such initiative on infrastructure is the coming of the Jewar aiport, which would connect the state with rest of India and the world,” he said.
Incidentally, Chief Minister of Uttarakhand Trivendra Singh Rawat and Finance Minister of Punjab Manpreet Singh Badal also addressed the gathering.
High Commissioner of India to Singapore Jawad Ashraf said that Singapore had partnered with Indian states on skills, urban development, infrastructure, urban township amongst others and the partnership between northern states of India and Singapore would reach to newer heights. Chairman, CII Northern Region, and vice-chairman and managing director, Vardhman Special Steels, Sachit Jain said that CII had been organising Invest North conclave with an objective to attract and tap the interest of the global investors’ community. “While over the years, Invest North has always been organised within the country, this year CII is organising Invest North in Singapore to promote northern region states of Punjab, Uttarakhand and Uttar Pradesh as the preferred investment destination and engage with overseas investment communities,” Jain added.
Deputy chairman, CII, Northern Region, and chairman and managing director, Jakson Group, Sameer Gupta said that northern India offered distinct advantages to investors, including rich natural resources, growing infrastructure, favourable policy regimes, availability of skilled labour, rising consumer demand backed by increasing income and continuous government support.