“With this in mind, the state government plans to build a network of incubation labs and packaging and design support to MSMEs,” Principal Secretary Infrastructure and Industrial Development Mahesh Kumar Gupta said.
He made the remark at the UP Pravasi Diwas in Agra where investors showed growing interest to foray into the eastern, central and Bundelkhand regions.
At the three-day mega event, one of India’s richest persons — Kerala-born businessman and managing director of the Abu Dhabi-based EMKE LuLu Group MA Yusuff Ali said he will soon expand his business empire into Uttar Pradesh.
He announced his company’s intent to invest Rs 1,000 crore in state capital Lucknow, where he plans to build a convention centre, shopping mall and a five star hotel.
With a net worth of $ 3.4 Billion, the Gulf-based retailer was ranked 24th on Forbes’ list of India’s richest 100, in 2015. Ali also hit the headlines for the $170 million purchase of the iconic Scotland Yard building in London, in July last year.
The inaugural day saw inking of 13 MoUs in the presence of Chief Minister Akhilesh Yadav, who rolled out the red carpet for people of Indian origin and UP’s non-residents by listing the state government’s efforts in strengthening infrastructure, healthcare, power conditions and agriculture sector.
The MoUs were signed with organizations run abroad but managed by NRIs to provide better living conditions to Indians settled abroad.
The state government entered into a MoU with Ashook Ramsaran, president of the Global Organization of People of Indian Origin (GOPIO), for forming a forum of NRIs from UP. With Rajesh Chandra of South Pacific University, the state government entered into a MoU for sharing of information, telecommunication and technology.
MoUs were signed with the Canada-based Indo-Canadian Chamber of Commerce, the Sharjah-based Indian Trade Exhibition Centre, Dubai’s Indian Business Council, Nadeem Akther’s Education Society, India Association of Japan, North America’s UP Association, WTC Noida Development Company, HDFC and ICICI banks, among others.
The Chief Minister described UP as a land of ‘Unlimited Possibilities’.
He also announced for his Agra audience that the state government was planning to — after a request from handicraft artisans he met on – waive value added tax on handicraft products in order to increase their profit margins.
The event saw 16 prominent NRIs with UP-link getting the coveted UP Ratna award.
The UP government also plans to draft new policies in defence manufacturing and start-ups to boost industrialization and attract large private investors to the state. “Both policies are on the drawing board and will be introduced shortly,” a senior official told SMEPOST.COM.