A high-level delegation from the Canadian Hindu Chambers of Commerce (CHCC) visited Lucknow on Monday, signaling a significant interest in bringing investments to Uttar Pradesh. The 24-member group, led by CHCC founder president Naresh Kumar Chavda, held extensive discussions with officials from Invest UP, the state's nodal investment agency.
Focus on Key Sectors and Incentives
During the meeting, the Canadian business leaders expressed a keen desire to explore opportunities across a diverse range of industries. The potential for investment was discussed in detail for sectors including hospitality, global capability centres (GCCs), IT and ITeS, pharmaceuticals, automobiles, textiles, and apparel.
Officials from Invest UP assured the delegation of the full support of the Uttar Pradesh government for any proposed ventures. A key point of discussion was the availability of land for new projects and the expansion of existing ones, a critical factor for investors.
The delegation received a comprehensive briefing on the state's focus sectors and the wide array of incentives offered under more than 34 investment-oriented policies. Special mention was made of policies tailored for Foreign Direct Investment (FDI) and Fortune 500 companies, highlighting the state's proactive approach to attracting large-scale capital.
Showcasing Industrial Hubs and Infrastructure
Invest UP officials presented a detailed overview of the state's industrial landscape. The presentation highlighted key growth centres and specialized clusters, including:
- Chemical and pharmaceutical parks across the state.
- The sanctioned Plastic Park in Gorakhpur.
- The unique Perfume Park in Kannauj.
- Established pharma clusters in Ghaziabad, Lucknow, Kanpur Nagar, Gorakhpur, and Hapur.
Significant opportunities in the Bundelkhand industrial region were also brought to the fore. The delegation was shown the potential of industrial areas along the Jhansi-Lalitpur and Jhansi-Gwalior corridors.
Furthermore, the presentation covered other major initiatives like manufacturing clusters, textile parks, the ambitious Defence Corridor, and Electronics System Design and Manufacturing (ESDM) clusters. To showcase Uttar Pradesh's diverse economy, officials also highlighted major tourism circuits, including the prominent destinations of Ayodhya, Prayagraj, Varanasi, Kushinagar, and Shravasti.
Governance Reforms and Ease of Doing Business
A crucial part of the interaction focused on the state's efforts to improve the business environment. Officials detailed key governance reforms and ease-of-doing-business initiatives that have been implemented. These include:
- The Nivesh Mitra 3.0 portal for streamlined services.
- A significant reduction in departmental compliances.
- The decriminalisation of various licences.
- The repeal of outdated laws that hindered business growth.
The Canadian delegation raised specific queries related to GCCs, FDI policy, investment processes, and tourism, all of which were addressed by the Invest UP team. The meeting was concluded by Prerna Sharma, Additional CEO (ACEO) of Invest UP, marking a positive step towards future collaboration between Canadian Hindu business leaders and one of India's fastest-growing states.
