companies US companies are expressing their intentions to leave China and invest in India

-

Around one hundred companies based in the United States are now interested in exciting China after the spread of the coronavirus which originated in Chinese geographical boundaries. These companies are expressing their intentions to leave China and invest in India.

A major attraction to them in this aspect is Uttar Pradesh. The scope of investment in the state is immense as it is home to more than ninety lakh Micro Small and medium enterprises and skilled labour. The state pitches robust support infrastructure with Creation of roads, water supply, irrigation and constant power supply.

It won’t be wrong to say that the state is one of the frontrunners on the growth trajectory.
Siddharth Nath Singh, The state’s minister in charge of MSMEs, on Tuesday, conversed with the potential investors through a Webinar.

The Webinar was organised by the United States-India Strategic Partnership Forum. The representatives of the engaged companies are interested in various fields. Agriculture, electronics, logistics, medicine, aviation, defence, food processing MRO and scientific instrumentation being some of them.

The interested giants include Lockheed Martin, Adobe, Honeywell, Boston Scientific, Cisco Systems, UPS and FedEx.

The minister along with Alok Tandon (industrial development commissioner) and Navneet Sehgal (principal secretary of MSME and exports) informed the US-based companies that the state government has planned 21 sectoral policies, highlighting the defence, pharmaceuticals, food processing, electronics and education sectors as highlights.
Mastercard wants to provide the facility of digital payment to Kirana stores in rural areas. UPS and Fredix showed interest to invest in Jewar airport by developing logistic centres. Boston Scientific plans to set up a medical equipment plant.

Also, Read Sri Lanka in a currency swap agreement with RBI