In a significant decision to promote foreign direct investment and large-scale industrial investment in Uttar Pradesh, the Yogi Cabinet approved the issuance of Letters of Comfort (LoCs) to Haier Appliances India Private Limited and Ecavo Hospitality Private Limited under the Foreign Direct Investment (FDI), Foreign Capital Investment (FCI), Fortune Global 500 and Fortune India 500 Investment Promotion Policy-2023.
Finance Minister Suresh Kumar Khanna said, “The two companies have proposed a combined investment of ₹1,925.61 crore. The projects include investment in electronics manufacturing in Greater Noida and a greenfield luxury hotel project in Prayagraj. The decision is considered an important step towards expanding industrial activity, developing the tourism and hospitality sectors, and strengthening the investment-friendly environment in the state.”
Haier Appliances India Private Limited is eligible for investment incentives under the Fortune India 500 category. The company was established in 2003 as a wholly owned subsidiary of Haier Singapore Investment Holding Private Limited. Its unit in Greater Noida currently provides direct and indirect employment to approximately 4,253 people.
The Cabinet approved the issuance of a Letter of Comfort to incentivise the company’s proposed investment of ₹1,271 crore. The project is expected to further strengthen Uttar Pradesh’s capabilities in the electronics manufacturing sector.
The Cabinet approved the issuance of a Letter of Comfort to Ecavo Hospitality Private Limited for its proposed investment of ₹654.61 crore under the FDI/FCI category. The company was incorporated on April 3, 2023, under the Companies Act, 2013. It operates in the development of premium hotel infrastructure and associated commercial facilities.
The company has proposed to establish a greenfield luxury hotel project in Prayagraj. The project will include approximately 158 rooms and suites, banquet facilities, restaurants and an integrated commercial complex. It is expected to expand high-end hospitality facilities in Prayagraj and boost tourism and business activities in the city.
The proposals submitted by both companies were deliberated upon at a meeting of the empowered committee held on July 29, 2026. Subsequently, the proposal to issue Letters of Comfort was placed before the Cabinet for approval.
The Cabinet’s approval is expected to facilitate large-scale investment proposals in the state and pave the way for the expansion of economic activity across various sectors.
Key figures
- Total proposed investment: ₹1,925.61 crore
- *Haier Appliances India: ₹1,271 crore
- Ecavo Hospitality: ₹654.61 crore
- *Key sectors: Electronics manufacturing, luxury hotels and hospitality services
Electronics manufacturing project in Greater Noida and luxury hotel project in Prayagraj to receive investment incentives
Combined proposed investment of both companies stands at ₹1,925.61 crore
