Current AffairsIndia

DefExpo 2020 made Lucknow richer by Rs 500 cr: ASSOCHAM

Lucknow, Feb 10(GCCurrentAffairs) The five-day Defence Expo 2020 that concluded here on Sunday is estimated to have generated businesses worth Rs 500 crore for the capital city, says ASSOCHAM, country’s apex industry and trade body.

Uttar Pradesh Chief Minister Yogi Adityanath has said that investments to the tune of over Rs 50,000 crore has been attracted through 23 MoUs during the 11th DefExpo and several defence industries would be set up in the UP Defence corridor in the next one year.

ASSOCHAM Secretary General Deepak Sood said the spin-off from the DefExpo could be Rs 500 crore on a conservative estimate.

He told this reporter that this amount could be much more as people from all walks of life in Lucknow stand benefited from this five-day exhibition.

Sood’s estimates are not off the mark. All the hotels in the city were booked well in advance with a majority of them overpriced. The tariff of the room normally available for Rs 10,000 per day was priced anywhere between Rs 65,000 and Rs 70,000 per day during the event.

Officials from around 1,800 companies manufacturing defence equipment took part in this edition of the DefExpo. There was a big crisis of rooms during the event.

Via UNI-India

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