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| UP govt nod to new Aerospace and Defence Policy, FDI reforms | | | Agencies
MAHAKUMBH NAGAR, Jan 22: The Uttar Pradesh government on Wednesday approved a new Aerospace and Defence Unit policy to attract Rs 50,000 crore of investments and generate jobs for 1 lakh people. The state cabinet meeting chaired by Chief Minister Yogi Adityanath in Prayagraj also approved an FDI policy among 10 key proposals aimed at accelerating the state's development, an official release said. Among these, the groundbreaking Aerospace and Defence Unit and Employment Promotion Policy 2024 was introduced to position UP as a leader in the sector, the release said.
The policy sets an ambitious target of attracting Rs 50,000 crore in investments, with the potential to generate direct employment for 1 lakh youth across the state. The Cabinet meeting was held at the Triveni Complex in Prayagraj amid ongoing Maha Kumbh.
The state Cabinet also approved the new FDI Policy to boost setting up of foreign industries in Uttar Pradesh in order to propel industrial and economic growth.
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