UP Global Investors Summit 2023: Pacts Worth Rs 19,265 Crore Signed With Firms In US, Canada

As many as 27 letters of intent worth more than Rs 41,000 crores were received, out of which eight proposals were converted into memorandum of understanding (MoU)

Updated on: 4 January 2023 1:06 pm

Uttar Pradesh CM Yogi Adityanath

Ahead of the Global Investors Summit, the Uttar Pradesh government has signed initial pacts worth Rs 19,265 crore with firms in the US and Canada.

A the team under the leadership of Assembly Speaker Satish Mahana and Animal Husbandry Minister Dharampal Singh showcased the state before investors in the US and Canada and held about 51 government-to-government (G2G) and business-to-business (B2B) meetings in the span of three days.

As many as 27 letters of intent worth more than Rs 41,000 crores were received, out of which eight proposals were converted into memorandum of understanding (MoU), a release said.

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Of these MoUs, 4 strategic partnerships were signed. The MoUs on the remaining 19 proposals are expected to be signed before GIS-23, it added.

The maximum investment in the MoUs signed so far is going to be in the Logistics, Defence and Aerospace sectors.

Mobility Infrastructure Group will invest Rs 8,200 crore in this sector within the state. With this, about 100 employment opportunities will be generated in the state. At the same time, QSTC Inc will invest Rs 8,200 crore in defence and aerospace. This will create about 200 employment opportunities.

MoUs totalling Rs 2,055 crore were signed between the state government and health care sector companies.

Under this, My Health Center and ZMQ Companies will invest Rs 2,050 crore and Rs 5 crore respectively. This will create about 500 and 60 employment opportunities. On the other hand, Dezero Labs Inc company will invest Rs 10 crore in medical devices. This will create about 75 job opportunities.

MoUs were also signed during the visit for investment in consumer durables, hospitality and electronic manufacturing sectors.

Akuwa Technology will invest Rs 100 crore in these sectors, providing 25 jobs.

Opulence Management Corp will invest Rs 500 crore in the hospitality sector, creating as many as 300 employment opportunities whereas Virtubox has signed an MoU for investment in the electronic manufacturing sector. It will invest Rs 200 crore, creating about 150 job opportunities.