Context:
Russian companies are set to invest in Uttar Pradesh’s defense and aerospace sectors, with Invest UP spearheading the initiative to attract these investments into the Defence Industrial Corridor.
More on News:
- The Additional Chief Executive Officer of Invest UP, held discussions with Russian defense sector companies and representatives from the India-Russia Collaboration Chamber.
- During these meetings, several Russian companies expressed their interest in investing and collaborating on aerospace projects within the corridor.
- According to senior officials at Invest UP, an action plan is currently being developed to further engage with Russian defense companies and ensure that these investments are successfully attracted to the Defence Corridor.
- Invest UP has set up a dedicated Russia Desk to attract investment from Russian defense manufacturing companies.
- The desk’s primary role is to facilitate communication with Russian investors and assist them in realizing their investment plans.
- Specially hired staff are working to support Russian companies looking to invest in Uttar Pradesh.
- Russian companies have shown particular interest in investing in the defense and aerospace sectors in the state. Additionally, Invest UP has established similar country desks for other nations to encourage foreign investment across various sectors.
