Uttar Pradesh’s efforts to promote industry and business in the state is bearing fruits as Pepsico, one of the leading food, snack, and beverage corporations will soon be investing 3,740 crore in Uttar Pradesh. The investment can be seen as a major boost for employment generation in the state with estimates of 5,650 jobs creation.
Pepsico will set up plants in Gorakhpur along with Amethi, Prayagraj, and Chitrakoot. Varun Beverages Ltd, an India franchise of Pepsico has been allotted lands in these four locations. The land allotted to them was through fast-track mode for setting up their units under the mega projects category producing carbonated soft drinks, fruit pulp, or juice-based drinks.
Details about the investment
In a press release by Invest UP, Additional Chief Executive Officer, Prathamesh Kumar informed that Varun Beverages Ltd. has been allotted 45 acres of land in Narkatha village of Gorakhpur. The company has proposed to invest ₹1071.28 crores in the Gorakhpur plant with around 1,500 expected employment avenues. Further, the investor has also been allotted 68.6 acres of land in Chitrakoot with a proposed investment of 496.57 crores and estimated job creation of 1,000.
The company has been allotted a land area of 24.7 acre land in Prayagraj with the company proposing to invest 1,052.57 crore and around 1,500 employment opportunities.
In Amethi, the proposed land is 26.2 acres and the company proposes to invest 1119.59 crores with an estimated employment generation of 1,650.
Invest UP – Promoting business and industries in Uttar Pradesh
The Uttar Pradesh government has been formulating various policies to promote businesses and industries in the state. Invest UP is part of the state government’s erstwhile Udyog Bandhu, an organization of the State Government of Uttar Pradesh dedicated to promotion and facilitation of investment in the state. Besides this, it also solves various problems of existing and upcoming industries.
Uttar Pradesh government is also coming up with various intiatives for ease of doing business. One such tool is Nivesh Mitra, a web application built by the state government a simple, user-friendly, entrepreneur-centric application. The application aims to get online clearances/NOC from concerned departments with ease and minimal “running around”. Due to such steps, Uttar Pradesh has become the second state in the country in terms of ease of doing business.
The UP government is continuously focusing on industry-friendly initiatives and industrial growth which will further benefit the country’s econmy at large.
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