The government of Uttar Pradesh (UP) has initiated a strategy to bolster foreign direct investment (FDI), launching projects worth Rs 6 trillion. The policy, approved by the Yogi Adityanath Cabinet, offers incentives such as capital subsidies, tax rebates, and discounted land rates to eligible foreign entities.
As a result of this new policy, the UP government has received FDI proposals amounting to Rs 60,000 crore from 25 countries. The policy specifically targets Fortune 500 companies and other FDI projects, aiming to stimulate economic growth.
In the run-up to the UP Global Investors Summit 2023, roadshows in key global economies have generated a multitude of investment proposals. These initiatives are part of a broader effort by the UP government to attract FDI and promote local development.
The groundbreaking ceremony marked the start of the implementation phase for these projects. As the state moves forward with these ambitious plans, it is expected that these efforts will significantly increase FDI inflows into UP, contributing to the overall economic progress of the region.
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