LUCKNOW Roadshows in seven Indian cities and in select foreign nations, one-on-one meetings with industrialists, a dedicated app for single-window clearance, and a host of other factors have helped the Uttar Pradesh government ink MoUs with several MSMEs and big businesses in the run-up to the Global Investors’ Summit. While the proactive approach of the state government has presented U.P. as an industry-friendly state before investors, there is still a long way to go as manufacturers have traditionally preferred investing in states with seaports over landlocked regions.
On multiple occasions, Uttar Pradesh chief minister Yogi Adityanath has also been asked how he plans to compete with industrial states like Gujarat and Maharashtra that have seaports, which are crucial for the export of finished products. To this, the CM has always maintained that U.P. may not have a seaport but the state has excellent connectivity, thanks to the new expressways and the international airports in the state. CM Yogi also makes a point to mention the several reforms which the U.P. government has carried out to ensure ease of doing business. Last but not the least, he also highlights that the state offers cheap labour.
Seemingly, his pitch has struck a chord with investors. When asked if lack of a port impacts U.P’s ability to emerge as a manufacturing hub, Hitesh M Patel, promoter & director, Instashield, said, “Yes, there is a challenge of the land lock, especially from export perspective as the logistic costs will be higher. However, to turn the state into a logistics hub and boost exports, the Uttar Pradesh government is developing a network of dry ports, which will eventually smoothen the logistics without much freight cost.”
Patel pointed out that Instashield, a health-tech start-up, has signed an MoU with the U.P. government to set up a manufacturing plant in the state with an investment of ₹20 crore. The MoU was signed during the U.P. government’s Hyderabad roadshow. “We see an immense potential in U.P. due to the state government’s proactive approach, recent developments in infrastructure, availability of cheap labour, and operational international airports. These are the key advantages of investing in the state,” added Patel.
{{/usCountry}}Patel pointed out that Instashield, a health-tech start-up, has signed an MoU with the U.P. government to set up a manufacturing plant in the state with an investment of ₹20 crore. The MoU was signed during the U.P. government’s Hyderabad roadshow. “We see an immense potential in U.P. due to the state government’s proactive approach, recent developments in infrastructure, availability of cheap labour, and operational international airports. These are the key advantages of investing in the state,” added Patel.
{{/usCountry}}Echoing the opinion, Vikas Aggarwal, founder & MD of Ipower Batteries Private Limited who is working to set up battery centres and service stations in every district of U.P, said, “The state government has done a lot over the years to facilitate industrialisation, making it easier to do business. This is the reason we are looking at setting up various service centres across different districts in U.P. in the first phase of our plan. These centres would smoothen the proliferation of electric vehicles into the state. Along with other incentives, we are hopeful that the government will ensure better roads in the interiors of the state, and provide good cellular and Wi-Fi connectivity to ease the process of digitisation.”