UP minister woos industrialists from Hyderabad on MSME and start-up policy
Giving assurance of a consistent and supportive policy environment, Uttar Pradesh industries development minister Satish Mahana on Tuesday invited investors […]
Sarabjit Kaur December 20, 2017
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Giving assurance of a consistent and supportive policy environment, Uttar Pradesh industries development minister Satish Mahana on Tuesday invited investors and industrialists from Andhra Pradesh and Telangana to explore possibilities of investing in Uttar Pradesh. “We have come up with a very progressive industrial policy after holding detailed discussions with industries and industry associations. We have big potential area and we welcome industries from Andhra Pradesh and Telangana and across the country to Uttar Pradesh now,” Mahana told reporters in Hyderabad. He was speaking on the sidelines of a road show held to attract investors to attend the Uttar Pradesh investors summit on 21-22 February. According to the minister, “Previously, there was a disconnect between the government and industry. Now, UP is changing and the opinion towards the state has rapidly changed.” Welcoming the start-up community of Hyderabad, Mahana shared the vision of UP government to emerge as a start-up destination by fostering a culture of innovation and entrepreneurship. Speaking on the recently launched IT and start-up policy 2017, Mahana also highlighted the intention of the government led by chief minister Yogi Adityanath, to create world-class infrastructure and incubators to support start-ups in the state. “Hyderabad is known for its information technology and electronics industry. We would certainly like to invite leading companies in these sectors to come to Uttar Pradesh and explore possibilities of investing in the state,” Anup Chandra Pandey, infrastructure and industrial development commissioner said. Welcoming investments across all the focus sectors of the state like IT, electronics, manufacturing, food processing, energy, textiles, among others, Pandey laid his emphasis on the recently launched MSME policy of Uttar Pradesh. The country’s largest incubator is also proposed to be established in Uttar Pradesh, Sanjiv Saran, Additional Chief Secretary, Department of IT & Electronics said. “In UP, already 2,000 start-ups are functioning and we would like to provide infrastructure to them by way of setting up a large incubator similar to the one here in Hyderabad. We are setting up this incubator in Lucknow,” Saran said. “A fund of funds with a corpus of Rs 1,000 crore will be instituted to provide growth capital to UP-based start-ups,” he said. The officials further said a revised film policy will be brought out in the next 15 days. According to an official release, V Prasanna Reddy, whole-time director, GVK Power and Infrastructure Limited has expressed interest to invest in upcoming airports, specially jewar airport and also in the power sector.