Beverage manufacturer to invest Rs 800 crore in UP

Lucknow, August 07: The Uttar Pradesh’s MSME, Export and Promotion, Khadi and Village Industries Minister Siddharth Nath Singh on Friday held discussions with representatives of the American Chamber of Commerce in India to promote investment in the state through video conferencing.

He said that PepsiCo India will now invest Rs 500 to 800 crore in the state. This will directly or indirectly provide employment to 1500 people.

According to the Minister, PepsiCo will also purchase 1.18 lakh tonnes of potatoes from the farmers of Mathura and Kosi, this will help to increase the income of the farmers. Similarly, Microsoft will establish a campus with a capacity of 4000 employees in the area of ​​Information Technology (IT) in Greater Noida.

The MSME Minister said that in the trade between UP and USA, exports of textiles, clothes, wood items, carpets, rugs, iron, steel and aluminum items worth $ 2.74 billion are being exported from the state.

He said that investors have shown interest in the field of electronics and electricals in Noida-Greater Noida. Similarly, investment will also be made in food processing, harticulture, footwear and leather articles, chemical and pharma, agriculture and service sectors.

He told to facilitate the investors; Invest Mitra Portal has been operated under Ease of Doing Business (EDB) in which their problems are being solved on the basis of single window clearance.

He said that investors will get the benefit of competitive low-level cast in the state with skilled manpower and concessions in labour laws. Besides, infrastructure of the state is also being developed to suit them.

Additional Chief Secretary MSME, Export Promotion, Khadi Village Industries Udyog Navneet Sehgal presented the action plan of the government to attract investors in UP.

He said that the government has set up a USA desk for American investors, under which investment proposals will gain momentum and this will also strengthen business and cultural relations.

Sehgal said that with the improvement of labour laws, suitable land, efficient manpower and infrastructure are available for investment. There are huge opportunities for investment in the fields of Civil Aviation, Defense, Aerospace, Automotive, Electronics, IT-IT, Agriculture, Food Processing, Textile and Leather.

He said that Asia’s largest airport is being built at Jewar in Greater Noida for the convenience of investors.

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