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Yogi Govt Promises Tailor-Made Benefits To Multinational Giants If They Move Manufacturing From China To UP
Uttar Pradesh Chief Minister Yogi Adityanath (Subhankar Chakraborty/Hindustan Times via Getty Images)
Chief Minister Yogi Adityanath led Uttar Pradesh (UP) government has promised a slew of benefits to multinational giants like FedEx, UPS, Cisco, Adobe, Lockheed Martin, Honeywell and Boston Scientific if they shift their manufacturing facilities from China to UP, Financial Express has reported.
The Uttar Pradesh government has already held a video conference with around 100 companies and investors from US headquartered organisations.
Investment and Exports Siddharth Nath Singh has said that the companies will get tailor-made benefits as per their needs if they decide to shift their manufacturing.
Aviation giant Lockheed Martin for example has been offered space in the Uttar Pradesh defence corridor and logistic companies UPS, FedEx will be allowed to start operations in the upcoming Jewar Airport.
Besides tailor-made benefits, the state has already announced sops like capital subsidy, land subsidy and a potential amendment to its industrial policy. The companies will also have around 90 lakh MSME state units at their disposal for local manufacturing support.
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