UP woos Karnataka biz

Uttar Pradesh Industrial Development Minister Satish Mahana on Monday invited investors from Karnataka to develop an IT park in his state. He said the government led by Chief Minister Yogi Adityanath has increased the corpus fund for startups from Rs 100 crore to Rs 1,000 crore.

Speaking at a road show to invite investors to attend the forthcoming UP Investors Summit on February 21 and 22 next year, Mahana said the state has offered a number  of schemes to woo investors.

"Our industrial policy attracts investors from across the country. Industrialisation is our government's priority,"  Mahana said.

Uttar Pradesh additional chief secretary, IT and Electronics, Sanjeev Saran said the state government has attracted proposals from  Taiwan Electrical and electronic manufacturers' Association (TEEMA) and Century Development Corporation.  

"We are expecting investments from Japanese, Chinese and Korean companies. Lava has committed to  come up with its largest manufacturing facility in the state," he said.