Yogiraj: Defense and Pharma Companies to Set up Factories in UP

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Uttar Pradesh is slowly becoming the investment hub of the country. Lots of foreign companies have evinced interest in coming to the state. Export promotion minister of UP, Siddharth Nath Singh said, “Uttar Pradesh has special focus on companies preparing to leave China. The state government will cooperate at all levels when these companies come to the state. By doing this, Uttar Pradesh will be in the competition of investment and industrial competition not only within the country but also in South-East Asia. Pharma companies originating from China have been offered to come to UP.”

Minister Siddharth Nath Singh discussed the investment with representatives of the Indo-American Chamber of Commerce and the US-India Business Council through a webinar on Friday. In which representatives of about 320 multinational companies participated. The minister invited pharma companies preparing to leave China to invest in UP. Said – The state government is building a pharma park near the capital Lucknow. US representatives praised the state’s MSME policy, saying that with this policy many defense MSME companies would like to come in the defense corridor of UP.

Navneet Sehgal, Principal Secretary, MSME and Export Promotion Department, gave information about the MSME app along with the new steps taken to set up MSME industries. The webinar was attended by 320 representatives from the pharmaceutical, defense, logistics, finance, telecommunications, electronics, food processing industries. Representatives of Lakid Martin, AT&T, IBM, HCL, Wipro, New York Engineers, Genisus, IRIS Consultant, Citibank, Microsoft, Walmart, Texas Department of Agriculture were prominent among them. During this webinar, Industrial Development Commissioner Alok Tandon and Principal Secretary Industrial Development Alok Kumar made a presentation on “Why UP only”. It said – there are a large number of consumers in UP. The state has a population of 23 crores. And 200 million consumers in neighboring states also join UP.

Representatives of some pharma companies said – they would need to supply many small products to get out of China. Siddharth Nath told him – Uttar Pradesh government is going to set up a pharma park near Lucknow. Under the Plug and Pledge policy, any company can start its business in Uttar Pradesh and for this, it can obtain a No Objection Certificate in three years.

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