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Over two dozen US companies have shown interest in investing in the State.
A 50-member delegation, representing 26 major US firms, had detailed discussions with State Cabinet Minister Siddharth Nath Singh here to explore investment opportunities in the State.
Job potential
“I welcome delegates to fulfil our ‘Sankalp Patra’ by creating employment through your investment in UP,” Singh said, referring to BJP’s poll promise to create massive job opportunities for youth.
Seeking to showcase the State as an attractive destination for investment, Singh said, “Yogi Adityanath government’s narrative is different from the previous governments. We will give you a red carpet welcome in the true spirit of Atithi Devo Bhava. We will work hard to ensure that those (sitting) in this room don’t go to other States to invest, but invest in UP. This will happen by providing a better ecosystem.”
With the tagline ‘US in UP’ on the lines of ‘Vibrant Gujarat’, the State government invited the US firms to invest in the State.
Partnership Forum
The delegation, headed by Boeing, visited the State under the aegis of US-India Strategic Partnership Forum (USISPF), which is committed to creating strong strategic partnership between the US and India and promote bilateral trade.
The USISPF said in a statement, “Our mission reaches far beyond this. It is about business and government coming together in new ways to create meaningful opportunities that have the power to change the lives of citizens.” It said that investment incentives offered by the State under the new Chief Minister “translates into a business-friendly climate for industry.”
Singh told PTI that taking a cue from ‘Vibrant Gujarat’, the idea of ‘US in UP’ has been mooted to display the State’s investment avenues in chemicals, petrochemicals, cement, gems, pharmaceuticals, textiles and engineering sectors.
He said a small delegation had visited the State two months back and realising its “tremendous investment potential,” a bigger delegation was here today.
Singh said the foundation for the high-profile tour was laid when Prime Minister Narendra Modi visited the US in June and invited CEOs of top US companies to invest in India, saying GST was a game changer that made the country a business-friendly destination.
US firms
Officials from the US Embassy and US Trade and Development Agency (USTDA) are also a part of the delegation, which included representatives from Facebook, Adobe, Coca Cola, Mastercard, Mosanto, Uber, Honeywell, P&G, Oracle and GE Health, besides Pratt & Whitney, Merck, Medtronic, Azure Power and Cargill.
Uttar Pradesh has recently announced an Industrial Investment & Employment Promotion Policy to create a framework to stabilise and make existing industries more competitive and to attract and realise new international and national investments in the industrial sector.
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