Gujarati companies are attracted to UP, investment of ₹ 38 thousand crores, Amul is also preparing to set up a plant
Ahmedabad companies are going to invest a total of Rs 38,000 crore in UP. For this, 22 Memoranda of Understanding (MoU) have been signed.
Investments in UP: Uttar Pradesh (UP) is becoming a center of attraction for investment. Especially for the investors of Gujarat. Actually, Ahmedabad companies are going to invest a total of Rs 38,000 crore in UP. For this, 22 Memoranda of Understanding (MoU) have been signed. Explain that ahead of the Global Investors Summit 2023 to be held in Lucknow next month, the Uttar Pradesh government held a roadshow and B2G meetings in Ahmedabad on Friday. In this, many big companies including Amul, Torrent Pharma signed MoUs on a total investment plan of Rs 38,000 crore. The B2G meetings and road shows in Ahmedabad were led by Cabinet Minister AK Sharma. He was accompanied by cabinet minister Jitin Prasad, minister of state Jayendra Pratap Singh Rathore and advisors to the chief minister Awanish Awasthi, GN Singh and other senior officials of the UP government.
Torrent Pharma to invest Rs 25,000 crore
Torrent Pharma, a company engaged in pharma business, can invest Rs 25,000 crore. Its MoU was signed. Tell that Torrent Group is already working in electricity and gas sector in 16 districts of UP and now wants to invest in pharma sector. The headquarter of Torrent Pharma is in Ahmedabad.
At the same time, Amul India has signed an MoU worth Rs 900 crore to set up a new milk plant in Baghpat district of Uttar Pradesh. Apart from this, another 9 MoUs worth Rs 1,000 crore or more have been signed. According to the media release of the Gujarat government, these investors will finalize their investment by participating in the UP Global Investors Summit-23 to be held in the capital Lucknow in February.
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What did the companies say?
Jinal Mehta, Managing Director, Torrent Group said, “The work done by the Chief Minister Yogi Adityanath-led government in the last five-and-a-half years to make UP crime-free, to build infrastructure, expressways, airports and road connectivity is commendable. As a result, we want to invest more in the state.
Rajiv Gandhi, Founder, CEO and MD, Hester Biosciences Limited, appreciated the Government of Uttar Pradesh for the infrastructure, market and easy availability of manpower. His company manufactures animal vaccines on a large scale in Gujarat. According to a media release, in view of the industrial policy of the Yogi government in Uttar Pradesh, the company plans to set up a plant for animal health products, natural products and formulations.