UP taps leather units in China, Brazil for investments

Image
Press Trust of India Lucknow
Last Updated : May 24 2020 | 11:33 AM IST

Buoyed by the decision of a German footwear firm to shift production from China to Uttar Pradesh, the state government on Sunday said it was in touch with "a few more" leather units in China and Brazil to bring them to the state.

"There are a few more leather units in China and Brazil with which the Uttar Pradesh government is in touch," the state's MSME, Investment and Export and Textile Minister Sidharth Nath Singh said.

His remarks came in the wake of the decision by Casa Everz GmbH to shift from China to Uttar Pradesh in the aftermath of the coronavirus pandemic.

"I welcome it (the decision) and congratulate my MSME team for helping in bringing Von Wellx German shoe brand... from China to UP. This will give employment to 10,000 people and also fulfil Prime Minister Narendra Modi's call of attracting investments moving away from China," Singh told PTI.

He further said Chief Minister Yogi Adityanath is of the view that such an environment should be created where entrepreneurs can say that Uttar Pradesh is the best state for investment.

Casa Everz GmbH, the owner of Germany-based healthy footwear brand Von Wellx, will be shifting its entire shoe production of over three million pairs annually in China to India with an initial investment of Rs 110 crore.

Hit by the coronavirus crisis, which originated in the Chinese city of Wuhan, companies globally are looking for other geographies to move their operations out from China.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 24 2020 | 11:33 AM IST

Next Story