PepsiCo to increase investment in UP from Rs 500 crore to Rs 800 crore
PepsiCo India has decided to increase its investment from Rs 500 crore to Rs 800 crore in Uttar Pradesh. This would provide direct and indirect employment to over 1500 people in the state.
The UP MSME and export promotion minister Siddharth Nath Singh while giving this information said that earlier PepsiCo was to invest Rs 500 crore in the potato chips plant at Mathura, which has been increased now. He said that many other US companies have agreed to invest in the state. While discussing the investment opportunities in UP with the representatives of the American Chamber of Commerce in India, the MSME minister assured of all help on behalf of state government. He said that PepsiCo has also decided to procure 118,000 tones potato from the farmers of Mathura and Kosi region. This would help in increasing the income of the farmers.
The minister said that Microsoft is already setting up a centre in Greater Noida, which will employ over 4000 people. He said the trade between UP and US is around $2.74 billion, which is mainly of textile, woodcraft, carpet, iron & steel items. Recently the US companies have shown interest in investing in the electronics and electrical sector at Noida and Greater Noida. The UP government is inviting investment in the food processing, leather, horticulture, and pharmaceutical and Agri sectors also.
The Additional Chief Secretary in the MSME department, Navneet Sehgal informed that a separate USA desk has been created to help investors, which will help in expediting investments proposals. He said that the proposed international airport at Jewar in West UP would help in attracting more and more investors. The defence corridor of UP could also be the favourite investment destination for global companies.