UP Govt Inks Mous Worth Rs 1,853 Cr In Textile & Handloom Se...| MENAFN.COM

Saturday, 26 November 2022 11:28 GMT

UP Govt Inks Mous Worth Rs 1,853 Cr In Textile & Handloom Sector

(MENAFN- KNN India) UP govt inks MoUs worth Rs 1,853 cr in Textile & Handloom sector

Lucknow, Nov 24 (KNN) The Uttar Pradesh government has inked pact with at least 34 foreign companies for investments largely in five sectors, including textiles, IT & electronics and pharma, according to a report in the TOI.

As per the data shared by the Chief Minister's office shows that 22 MoUs for projects worth Rs 1,853.52 crore have been signed in textiles and handloom sector. Textile sector has so far bagged the maximum number of MoUs signed by foreign companies.

Another nine MoUs worth an investment of Rs 56,681 crore have been signed under the department of IT & electronics, followed by two under pharmaceutical sector worth Rs 108 crore.

One MoU worth Rs 13,085 crore has been signed under infrastructure and industrial development department.

The Uttar Pradesh government is in talks with various countries of which many have expressed interest in investing across various sectors, an official said.'For instance, UAE has expressed interest in renewable energy, hospital and medical education, apparel and textiles, agro and food processing, leather footwear and infrastructure,' he said.

Discussions have taken place with the US, Canada and Brazil for IT & Electronics, agro and food processing, defence and aerospace, pharmaceuticals and medical devices, energy, venture capital, retail and automobile components.

UK, France and Netherland have shown interest in energy, electrical vehicle manufacturing, agro and food processing, textiles, defence, engineering and technology, manufacturing agriculture equipment, water management and green house technology.

Businesses from South Korea, Thailand and Japan have expressed interest in sectors like IT & electronics, textiles, infrastructure, agro and food processing, manufacturing, logistics, retail, chemicals and tourism. Russia has expressed interest in sectors like defence and aerospace, energy, automobiles, pharmaceuticals, manufacturing and venture capital.

Sweden, Belgium and Germany have also discussed investment opportunities in electronic manufacturing, retail, automobiles, electric vehicle manufacturing, defence, textiles, agro and food processing, chemicals, pharma and transport.

Countries like Singapore and Australia have also come forward with investment proposals in IT & electronics, textiles, infrastructure agro and food processing, logistics, dairy, healthcare, education and warehousing, while Mauritius and South Africa are willing to invest in IT, tourism, healthcare and renewable energy.

Around 21, foreign delegates have so far confirmed their participation for the upcoming Global Investors summit.
(KNN Bureau)


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