After Microsoft, Samsung, and more, IKEA will now invest Rs. 5,500 crore in Uttar Pradesh and open Country’s biggest store
From the beginning of UP CM, Yogi Adityanath’s tenure, his focus has been on reforms in both agriculture as well as labour markets in the state paving way for more industrial investments into the most populous state of India.
Reforms have helped to attract investments into Uttar Pradesh, thereby creating massive number of Jobs in the state.
To name a few:
In 2018, Samsung inaugurated its “world’s largest mobile factory” in UP as part of its $715 million India investment plan.
South Korean electric vehicle maker Edition Motors has proposed to invest almost ₹5,000 crore to set up its production facility in Uttar Pradesh. This plant alone is expected to bring in more than 5,000 jobs.On the 4th of August 2020, Kodak TV India announced an investment of more than ₹500 crores over the next three years on a TV manufacturing plant in Hapur, Uttar Pradesh as a part of its pledge to ‘Make in India’.
Microsoft has agreed to set up its next campus of 4,000 employees in Greater Noida thereby giving a major push into making Uttar Pradesh as next big Tech Hub.
Food and beverages giant Pepsico has announced to invest ₹500 crore to set up a unit to make its popular Lay’s and Doritos chips, employing more than 1,500 people.
Most recently, Swedish firm IKEA has announced to invest Rs 5,000 crore in Uttar Pradesh and will be opening about a dozen stores across the state. This is expected to directly and indirectly generate employment for at least 50,000 people.
LikeForwardCopyReportThese announcements are just the tip of iceberg in what may just turn out to be an avalanche of investments and jobs.
Uttar Pradesh had also recorded a jump of 10 positions to at number 2 in ease of doin business’s annual ranking.
On one hand where Rana Ayyub and her likes address Yogi Adityanath as a radical Hindu monk, under his watch, UP is relentlessly wooing businesses, projects and investors.
