It is raining investments in Uttar Pradesh.
The UP government has set an ambitious target to bring investments worth Rs 10 lakh crore during the Global Investors Summit set to be held in Lucknow in February 2023
It is raining investments in Uttar Pradesh.
Ahead of Yogi Adityanath government’s eagerly-awaited Global Investors Summit to be held in Lucknow in February 2023, foreign investors have evinced tremendous interest to invest in the state in response to the road shows by the delegations of UP's ministers and officials across several countries in Europe, Asia and North America
The UP government has set an ambitious target to bring investments worth Rs 10 lakh crore during the mega event to be held from February 10 next year. In order to apprise the prospective investors about the policies and programmes of the Yogi government that have created an investor-friendly climate in the state, the delegations from the state have planned to hold road shows in as many as 20 countries to lure the investors.
Led by Industry Minister Nand Gopal Gupta and Public Works Development Minister Jitin Prasad, the UP government organised investor roadshows in Stockholm to invite Swedish business houses to the summit. In response, it received a positive response with the Swedish firms showing intent to invest Rs 15,000 crore in the state.
According to an official of the delegation, Swedish multinational IKEA filed an intent to invest Rs 4,300 crore for setting up its retail stores and malls in Noida and other cities. Besides, Swedish construction company, Sernekeintends showed its intent to invest Rs 10,000 crore in the Film City Project in Greater Noida.
The Luxemburg-based, Boson Energy also filed intent to invest Rs 1,000 crore for setting up waste to energy project in Uttar Pradesh at the Stockholm Roadshow which was attended among others by UP government official Additional Chief Secretary Navneet Sahgal, Sports & Youth Welfare Secretary, Senthil C. Pandian and Excise Commissioner Pranjal Yadav.
On this occasion, Jan Larrson, President & CEO at Business Sweden said that with a huge population size and pro-active government, Uttar Pradesh had emerged as the most promising investment destination in India. “If Swedish industrialists want to invest in India, then they should definitely look at Uttar Pradesh,” he said. “The work done by the state to bring it to the forefront with a supportive business climate is appreciable.”
UP Industrial Development Minister Nand Gopal Gupta says that UP has very favourable conditions for industry and investment and the state government has made an inclusive policy after a detailed study of the policies of various states. “We have put the interests of the investors above everything else,” he says. “The summit will speed up UP’s march towards becoming a one trillion dollar economy," he says.
During the road shows so far, different companies have signed MoUs worth investments of Rs 15,000 crore in Japan, Rs 8,500 crore in Singapore and Rs 600 crore in the Netherlands. Intent of investments worth Rs 20,000 crore has also come from the UAE.