After the Uttar Pradesh government held a video-conference with over 100 United States firms on Tuesday, Uttar Pradesh Minister Sidharth Nath Singh expressed hope of foreign investors being attracted to India. Amid the Coronavirus pandemic, as foreign investors, especially from the US are keen on withdrawing from China for various reasons, the UP government in a collaboration with the US-India Strategic Partnership Forum held a webinar seeking to attract the investors to India.
"The USA has a significant investment in China and with companies exploring for options to shift base from China, the Prime Minister and the Chief Minister want to use the opportunity to see how they can be brought to India, to UP. A webinar was held with over 100 American companies yesterday," said Sidharth Nath Singh, UP's Minister for Micro, small and medium enterprises (MSMEs).
The UP Minister added that the webinar had been successful and saw the participation of firms from across diverse fields such as logistics, scientific instrumentation, electronics amongst others. Many companies participated in the webinar, including Adobe, Boston Scientific Master Cards, and UPS. Siddharth Nath Singh, along with a team of senior officers, including industrial development commissioner Alok Tandon and principal secretary, MSME and exports, Navneet Sehgal, represented the state.
"Companies, including big names from logistics, scientific instrumentation, electronic, automobile industries, have expressed their interest. They already have investments in China. I am hopeful we will be able to bring them to UP, given how we are working by making changes in our industrial and sectorial policy," added the minister.