Min, envoy to France discuss investment avenues in UP

Lucknow: In yet another step to boost foreign investment in the state, the UP MSME department and Indian Ambassador to

France

, Jawed Ashraf, have agreed to set up a working group to explore the possibility of joining hands in sectors like defence/aerospace, textile, footwear industry and skill development.

MSME minister Sidharth Nath Singh interacted with Ashraf via video conference on Wednesday and highlighted the initiatives taken by the state government in easing regulations to promote investments.

Singh said the pandemic had provided the state an opportunity to relocate disrupted supply chains. “There is a huge opportunity to increase percentage potential of exports from India and UP to France. A large land parcel has been earmarked for maintenance, repair and overhaul (MRO) near the Jewar Airport in Greater Noida which can provide investment opportunities to French companies,” he said.

Additional chief secretary (MSME and export promotion) Navneet Sehgal explained the state government’s policies for promotion of investments. “UP has excellent policies and incentives, and this is a great opportunity to promote investments in the state and exports out of the state to various countries,” he said.

He added that the state’s connectivity, investment policies and upcoming infrastructure would make UP an attractive investment hub.

Ashraf said UP was the first state to approach France for promotion of investments and exports and said the state was successful in changing its image over recent years.

He indicated that in the aftermath of Covid-19 pandemic, French companies located abroad were either looking to return to France or finding an alternative to China. “France is the gateway to the European Union market and can be an attractive opportunity for Uttar Pradesh,” he said.