What has been the response from domestic and global investors to the industrial and investment policy of UP?
We have launched more than 27 policies to attract investment in specific sectors, including information technology (IT)/IT-enabled services (ITeS), data centre, electronics system design and manufacturing, defence and aerospace, electric vehicle, warehousing and logistics, tourism, textile, micro, small and medium enterprise (MSME), and more. Under the UP Industrial Investment & Employment Promotion Policy 2022, 89 proposals worth 1.58 trillion have been received for granting letters of comfort (LOC), of which 36 applications, with a proposed investment of roughly 24,314 crore, have been approved. The UP government is the only state to have announced a dedicated foreign direct investment (FDI) policy aimed at attracting investments from Fortune Global 500 and Fortune India 500 companies into the state. Under the UP Warehousing and Logistics Policy 2022, 84 applications worth ₹6,987 crore have been received for LoC, of which 12 applications, with a proposed investment of ₹662 crore, have been approved.
The government's commitment to industrial growth is reflected in the fact that Chief Minister Yogi Adityanath recently disbursed incentives amounting to₹1,333.05 crore to 32 companies as part of various industrial schemes.
The disbursement covered regions across UP, with particular focus on the Bundelkhand and Purvanchal regions, which received proposals worth 4,153 crore. Investments in the western and central regions amounted to 3,714 crore and 2,847 crore, respectively. Under the IT/ITES Policy 2022, companies like Samsung and HCLTech received incentives worth ₹212.63 crore, further supported by the Infrastructure & Industrial Investment Policy 2012, which awarded nine units a total of ₹935.51 crore.
Denne historien er fra November 29, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 29, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Loser takes all
This book was published in September, three months ahead of the US presidential polls, presumably to reveal to voters the dangers of returning Donald Trump to the White House.
J&K HC asks Army to pay 46 years' rent to landowner
The High Court of Jammu and Kashmir and Ladakh recently held that the right to property now falls within the realm of human rights.
India, UK navies to develop electric propulsion for next-gen warships
The ministries of defence of India and the UK have signed a statement of intent (SoI) to cooperate in designing and developing Electric Propulsion Systems for the Indian Navy.
India backs Iskcon, tells Bangladesh to protect minorities
New Delhi hopes arrested monk will get fair trial
HAVING A BALL
Indian bowlers are winning matches and setting IPL auction records. But brands are not yet bowled over. Will Bumrah get bowlers their due?
Link UPI app to bank account with limited funds, set daily limits
Indians have lost ₹485 crore to frauds on the Unified Payments Interface (UPI) across 632,000 incidents reported until September of the current financial year, according to data from the Ministry of Finance.
Arpu gains, lower capex augur well for Airtel
Brokerages positive on stock; earnings flows may rise over next 24 mths
NIFTY LOGS BACK-TO-BACK MONTHLY LOSS
Benchmark Nifty 50 index shed 0.3 per cent in November, logging its first back-to-back monthly loss since February 2023.
Lock-up on ₹1.2 trn pre-IPO shares to lift in two months
Lock-up on shares worth nearly ₹1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note.
Margin moderation may cap upsides for Colgate
After gaining over 15 per cent in the first half of the week, the stock of oral care major Colgate-Palmolive (India) has shed about a third of those gains.
