UP team extends invitation to Hanwha Grp to invest in state
2
3
Lucknow: A delegation led by finance minister Suresh Khanna is attending the ongoing World Expo 2025 in Osaka, Japan, to strengthen economic ties and attract global investments.
On the second day, the delegation held detailed discussions with members of the Hanwha Group and invited them to invest in UP.
The delegation also toured Hanwha Group's advanced manufacturing facilities in Wakayama, which produce high-quality steel, food products, and other industrial goods. Their engagement with Hanwha's leadership focused on deepening industrial partnerships and encouraging Japanese enterprises to explore UP's investment landscape.
An official spokesperson said: "The finance minister extended a formal invitation to the Hanwha Group to establish manufacturing operations in UP. He highlighted the state's world-class infrastructure, investor-centric policies, and availability of a skilled, future-ready workforce. He also emphasised the importance of local employment generation and encouraged Hanwha to recruit talent from UP and contribute to ongoing skill development initiatives.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Up to 70% off | Shop Sale
Libas
Undo
"
Meanwhile, an EU delegation led by Vivian Loonela visited the UP Pavilion, exploring strategic partnerships to promote sustainable, experience-rich tourism across the state. As part of its global outreach, Invest UP has set up the UP Pavilion, which is witnessing enthusiastic footfall from investors and international delegates keen to explore the state's business-friendly environment, attractive incentive structures, and rapidly evolving industrial ecosystem, officials said.
The spokesperson said that principal secretary, industries and infrastructure development, Alok Kumar assured full institutional support to Japanese investors and reaffirmed the state govt's commitment to facilitating investments in key sectors such as manufacturing, logistics, semiconductor and green energy. This outreach marks another milestone in UP's efforts to position itself as a globally competitive investment destination and strengthen industrial cooperation with Japan, officials said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
29 minutes ago
- The Hindu
A slow revival: on the state of India-China ties
India's decision to restart issuing tourist visas for Chinese nationals is a strong signal that diplomacy over restoring ties rent apart by the LAC military standoff and Galwan clash of 2020 is moving smoothly. Since Prime Minister Narendra Modi and Chinese President Xi Jinping met in Kazan last October, there have been a number of high-level meetings; the Working Mechanism for Consultation and Coordination on India-China Border Affairs (WMCC) has been convened three times. The visa decision comes a month after China reopened the Kailash Manasarovar Yatra pilgrimage. The two sides have also agreed in principle to revive direct flights, and it is hoped visas for journalists will follow. A joint statement last month said that they would hold 'certain functional dialogues' to discuss economic issues and trade, presumably to address India's restrictions on Chinese investment, and China's export restrictions on fertilizer and critical minerals. The export restrictions are causing considerable disruption in Indian technology sector companies, and even Japanese and South Korean automotive companies based in India have raised concerns over supply chain issues. The measures are expected to continue to roll out as preparations begin for the expected visit of Mr. Modi for the Shanghai Cooperation Organisation Summit in August. The WMCC held on Wednesday in Delhi discussed preparations for the next meeting of Special Representatives on the China-India boundary question, to discuss dispute resolution; China's Ministry of Foreign Affairs says that it is speaking to India about New Delhi's concerns over the mega-dam project on the Brahmaputra (Yarlung Tsangpo) in Tibet. However, both sides have been muted about the reason for the rupture in ties in the first place. There has been little discussion over what prompted the Chinese PLA to transgress the LAC in 2020, which led to the Galwan clash, and what guarantees Beijing has given that this would not be repeated. While in December 2024, the government told Parliament that normalcy in ties could only follow the restoration of 'peace and tranquillity in the border areas', it appears it is now prepared to continue to normalise other parts of the relationship without achieving troop de-escalation, dismantling of infrastructure in disputed areas and buffer zones that would lead to restoring patrolling to pre-2020 levels. Ties have also been impacted over Operation Sindoor, with revelations that the PLA was in lock-step with Pakistan's army. The government must realise that restoring mechanisms of bilateral ties are not by themselves sufficient for rebuilding trust. Sweeping key issues under the carpet, without some transparency on the path ahead, could put the whole process of reviving relations at risk.
Time of India
41 minutes ago
- Time of India
Tokyo firm dealing in semiconductor productionequipment explores setting up centre in UP
1 2 Lucknow: In a meeting with UP's delegation at the World Expo 2025, Tokyo Electron Limited, a leading manufacturer of semiconductor production equipment, explored the opportunity to invest in the state. The team looked at business potential in the area of Global Capability Centre setup. TEL was represented by Takeshi Okubo, corporate officer and executive vice president (global sales division and India business), among others. "Discussions centred around the fast-evolving semiconductor ecosystem in the Noida region and prospects for TEL to collaborate in areas such as semiconductor manufacturing, skill development, and establishing GCC in UP," a govt spokesperson said. He added that the TEL leadership expressed keen interest in exploring Uttar Pradesh as a base for GCCs, citing the state's skilled talent pool, robust infrastructure, and industry-friendly policies. Also present during the meeting were Debjani Chakrabarti, minister (Economic and Commercial) at the Indian Embassy in Tokyo, Amit Singh, secretary to CM Yogi Adityanath, and Vipin Kumar Jain, special secretary to UP CM. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo by Taboola by Taboola Finance Minister Suresh Khanna, along with officials from Invest UP, visited the Osaka Prefectural Assembly for a productive meeting with vice chairperson Kida Kaoru and chairperson Kinjo Katsunori. "The discussions centred around capacity building, youth upskilling, and technology exchange, with both sides underscoring the promise of deeper commercial partnerships and celebrating the enduring cultural and historical ties between India and Japan," they said. Academic collaboration with Portugal During World Expo 2025 in Osaka, the University of Guarda (Polytechnic Institute of Portugal) expressed keen interest in academic partnerships with Indian institutions—covering student exchanges, joint research, and faculty collaboration. At the Uttar Pradesh Pavilion, senior delegate Rakesh Sharma proposed alliances with BHU and Dr Sampurnanand Sanskrit University, Varanasi, via Invest UP, affirming full support to strengthen global academic linkages.
Time of India
2 hours ago
- Time of India
US-Japan deal brings tariff clarity: 15% cap averts August duties; EU and China face pressure as next deadlines loom
A landmark trade deal between the US and Japan has set a new benchmark for global tariff negotiations, as economists say the 15% cap agreed for auto and goods tariffs could become the new normal in ongoing trade talks with other key US partners. Under the agreement, tariffs on Japanese auto imports to the US will drop from 27.5% to 15%, while levies on other goods that were set to rise to 25% from August 1 will also be cut to 15%, Reuters reported. The deal, which includes investment and lending commitments, is one of the most significant trade pacts signed by US President Donald Trump, who has imposed a series of steep tariffs on dozens of trading partners this year The deal relieves markets and raises pressure on other major economies, including the European Union and China, both of which face looming August deadlines to conclude similar agreements or risk the reimposition of punitive tariffs. 'Average tariffs for the US were around 2.5% for 2024; currently, they stand around 17%,' said Mohit Kumar of Jefferies, referencing the spike in duties following Trump's 'Liberation Day' trade policy shift in April. 'Our base case remains that when the dust settles, we could see average tariffs around 15%, though recent deals suggest that this number could be slightly higher,' Kumar was quoted as saying by Reuters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You Won't Believe the Price of These Dubai Apartments Binghatti Developers FZE Get Offer Undo 'While a negative from a macro point of view, the world can live with 15% or so tariffs.' Markets cheer clarity, automakers lead gains Relieved by the clarity brought by the US-Japan pact, Japan's Nikkei 225 index rose 3.5%, while European automakers with major US exposure also rallied. Volvo Car surged over 10%, while Porsche, BMW, Mercedes-Benz and Volkswagen gained between 4% and 7%. 'It looks like the benchmark for major economies is going to be 10–15%, and a somewhat higher level for smaller economies,' said Derek Halpenny, head of research at MUFG in London. Deutsche Bank's Jim Reid noted the move 'helped to ease investor fears that tariffs are about to snap back higher on August 1,' but cautioned that significant threats remain. 'The threat of much higher tariffs still remains for several large economies, including the 30% on the EU, 35% on Canada and 50% on Brazil,' he said, quoted Reuters. EU and China next in line The European Union, which negotiates on behalf of its 27 member states, faces the threat of 30% US tariffs by August 1. While EU negotiators initially aimed for a 10% rate, expectations have now shifted toward a higher outcome. China, too, is on the clock. Without a deal by August 12, tariffs could snap back to 145% on the US side and 125% on the Chinese side—raising the stakes dramatically for both economies. 'The US-Japan deal will put more pressure on other major Asia exporters to secure better deals,' ING noted in a research comment. 'We've already seen trade deals with the Philippines and Indonesia. Before August 1, there should be more deals struck with Asian exporters.' The deal also helped ease longer-term US inflation expectations, suggesting that successful trade pacts could help the Federal Reserve regain room to cut interest rates later this year. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
