Lucknow: When one talks about attracting investment through the FDI route, the endeavour requires walking the extra mile – something that UP has done, said state’s industries and infrastructure development commissioner Manoj Singh while welcoming guests at the GBC 4.0 FDI conclave here on Monday. “UP is the first Indian state to come out with a dedicated policy to attract FDI from international and Indian fortune 500 companies… our framework is both incentivising and growth assuring,” he said.
“We have prepared the ground for it through a policy framework and addressed the biggest roadblock which was the cost of land.In UP, the cost of a hectare of land can go up to Rs 4 crore which is several times higher than what it is in Gujarat and Maharashtra. To counter this, UP is offering a front end 75% land subsidy,” he said informing that the change has helped in bringing FDI from Japanese company Fuji Silvertech which is setting up a plant in western UP.
“We have prepared the ground for it through a policy framework and addressed the biggest roadblock which was the cost of land.In UP, the cost of a hectare of land can go up to Rs 4 crore which is several times higher than what it is in Gujarat and Maharashtra. To counter this, UP is offering a front end 75% land subsidy,” he said informing that the change has helped in bringing FDI from Japanese company Fuji Silvertech which is setting up a plant in western UP.