The Yogi government is working on China +1 Strategy to attract foreign investment. Negotiations with over 200 global companies are underway. PLI Projects, Ease of Doing Business and Better Infrastructure are becoming UP’s favorite hub.
The Yogi government has launched a new campaign to change the picture of Uttar Pradesh. It is not just an exercise to bring investment, but is a dream to make UP a global manufacturing hub. The government is working on China +1 Strategy to grab the attention of foreign investors and so far more than 200 international companies have been discussed. With the help of Indian Embassies and global institutions, this initiative is gaining momentum and UP is seen to be a new hotspot of foreign investment.
UP is getting confidence of foreign companies
Under China +1 Strategy, companies from the US, Japan, Germany, France, Switzerland, Denmark, Spain and China have expressed their desire to invest in Uttar Pradesh.
- 30+ companies from america
- 30 companies from Germany
- 20 companies from Japan
- 14 companies from China
- 7-7 companies from Switzerland and France
- 6 companies from Denmark
- 5 companies from Spain, the UP government is preparing a special country-specific desk to convert these leads into real investment.
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PLI scheme became the power of investment
The Production Linked Incentive (PLI) scheme of the Government of India is also a major reason for foreign investment in UP.
- 574 PLI projects approved so far
- 70 companies already employed
- New projects of 11 companies
- 20 companies signed MoU from UP government
- Active follow-up released with 473 companies
New facility system for investors
The UP government has appointed account managers for 814 companies to ease investors. This includes Fortune 500 and India Next 500 companies. Their list also features shipping, telecom, retail, petrochemicals, insurance and banking sector companies. Under this initiative, 50 new MoUs have been signed so far and negotiations with 282 companies are going on.
Why is UP attractive for foreign investors?
- Strong political leadership and stable policies
- Better connectivity like expressway, airport and industrial corridor
- Benefits of being the largest consumer state
- Ease of Doing Business Improvement – Single Window System and Investor Facility Center
- Huge Workforce And Cheap, Skilled Labor
What is China +1 Strategy?
This is a global business strategy, under which companies establish their manufacturing and supply chains not only depending on China and also establishing them in other countries. The UP government is considering it as an opportunity to attract foreign companies.
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