The manufacturing sector has surpassed its own benchmark by attracting investment of Rs.10 lakh crore which is way ahead of the Global Investors Summit. Through the summit, investments of Rs.21 lakh crore has been received by the government officials on Friday. The investments were conducted in Uttar Pradesh, India.
This came as a result of the UP government’s delegations for the past 2 decades which includes two dozen international and national businesses in December and January. The meeting and discussions held included discussions regarding the investments and the B2G (Business to Government). The manufacturing sector had 56% of the proposals.
Madhyanchal, Bundhelkhand and West UP are the regions which includes 45% , 15% and a major chunk of the proposal. The proposals were formally announced during the upcoming UP Global investoes summit which was held in 2023. The businesses included the ease of sarting the businesses. The summit was inaugurated by the Prime Minister in the presence of the foreign dignitires and industry experts between February 10 and 12.
The proposal further included the agriculture sector which pulled 15% of the proposal. Out of which, textile and tourism sectors were given 8% and 7% respectively. 5% were received from the MoUs. The remaining allocation was given to the education, IT, electronics, renewable energy, pharmaceuticals and medical devices.
The UP government had rolled out a outred carpet to welcome all the investors. A wide network was provided for policy and the framework and robust infrastructure in order to establish the business. UP government has decided to provide incentives and subsidies to attract more investment.
