Arvind Kumar said that Uttar Pradesh has received investment proposals of Rs 7.12 lakh crore during roadshows conducted in 16 countries. The IT & Electronics Department has received investment proposals worth over Rs 1.85 lakh crore and out of these MoUs worth more than Rs one lakh crore have been signed.
With the intention of developing new business opportunities for Uttar Pradesh, the state is holding the Uttar Pradesh Global Investors Summit 2023 (UPGIS) in February. Kumar said, “The Uttar Pradesh Global Investors Summit 2023 (UPGIS) is a three-day programme that will witness the 10,000 delegates from 20 countries.”
Kumar points out that Chief Minister Yogi Adityanath has revised the investment target from Rs 10 lakh crore to Rs 17 lakh crore. Prime Minister Narendra Modi is set to inaugurate the UPGIS on February 10, while President Droupadi Murmu is likely to attend the closing ceremony as the chief guest on February 12. More than 20 Union ministers are likely to take part in the event, including Defence Minister Rajnath Singh, Home Minister Amit Shah and Finance Minister Nirmala Sitharaman.
In response to a question, what is the roadmap to achieve the investment target of Rs 17 lakh crore, Kumar said, “After targeting foreign investors and large business houses across the globe, we are now reaching out to domestic giants in seven metropolitan cities of the country including Mumbai, Delhi, Kolkata, Hyderabad, Ahmedabad, Chennai and Bengaluru to attract investors.”
Investors within the state are also being encouraged. Kumar points out that the state government is organising roadshows at divisional headquarters, along with the district-level summits. To garner maximum investment from local entrepreneurs, businessmen and industrial groups, the roadshow will be organised in Prayagraj, Varanasi, Agra, Meerut, Kanpur, Ayodhya, Bareilly and Jhansi divisional headquarters.
What kind of investments is Uttar Pradesh attracting from global and national entities?
According to Kumar, MoUs (memorandum of understanding) have been signed with six companies from Singapore and Australia for investment worth Rs 24,560 crore in data centre, logistic service, EMS for smart devices and IoT products, agro processing cluster, data center and logistic park and food processing.
The Star Consortium Private Limited will invest Rs 1000 crore in data center and another 1000 crore in logistic service. The Global State Capital Pvt Ltd Data Center will invest Rs 8260 crore. Sain Fuel<\/a> and Group Companies will invest Rs 2,000 crore in EMS for smart devices and IoT products and Universal Success Pvt Ltd will invest Rs 5100 crore in the Data Center and Logistics Park.
MoUs worth Rs 19,265 crores have been signed with the US and Canada firms. While Mobility Infrastructure Group<\/a> will invest Rs 8,200 crores in Defence and Aerospace sectors, QSTC Inc will invest Rs 8200 crore in the same sectors. MoUs worth Rs 2055 crore were signed between the state government and healthcare sector companies.
MoUs worth Rs 8,500 crore have been signed covering investments in collaboration with Enterprise Singapore in various sectors. MoUs have also been signed between Western Sydney University Parramatta and Gautam Buddha University (Noida-Greater Noida) for cooperation and investment in areas such as urban agriculture, urban forestry, greening in cities, water conservation, and student exchange programmes.
MoU<\/a>s worth Rs 18,350 crore have been signed with companies from Japan and South Korea in the manufacturing, waste management, textile and garment sectors. MoUs include a Rs 10,000 crore investment proposal by Nissenken Quality Evaluation Centre Tokyo Laboratory in the textile and garment sector and a Rs 2500 crore investment proposal by Japan India Industry Promotion Association in the same sector. While One World Corporation has signed an MoU to invest Rs 5,000 crore for the development of waste management facilities at Gautam Buddha Nagar, Seiko Advance Limited has signed an MoU to invest Rs 850 in the manufacturing sector.
Agristo Belgium has expressed its intention to invest Rs 300 crore in the food sector of the state by 2023. The company has already invested Rs 200 crore in the food sector in Bijnor, and plans to spend another Rs 300 crore in 2023. In 2025 also, the company will invest Rs 200 crore.
In addition, entrepreneurs have expressed enthusiasm for investments in the financial services, hotel and distilleries, renewable energy, and sugar mill industries. Some of the potential investors have expressed a desire to invest in the transportation services that would link the religious cities of Uttar Pradesh, while others expressed a desire to invest in the higher education sector.
In his response to a question regarding the strategy that the state is following for achieving the 1.6 lakh crore investment target for the IT and electronics sectors, Kumar said that the IT and Electronics Department has already received investment proposals worth over Rs 1.85 lakh crore and out of these MoUs worth more than Rs one lakh crore have been signed. A total of 169 investment proposals were received of which MoUs were signed on 142 worth Rs one lakh crore, while 27 MoUs on projects worth Rs 85,000 crore are in the pipeline.
He added that the investment in this sector will not only benefit big cities or tech-friendly youth, but also Bundelkhand and Purvanchal regions along with villages and towns as well as resources like agriculture.
Kumar further said, “Infotouch Technologies Pvt. Ltd<\/a> has signed an MoU for starting a project at a cost of Rs 78,000 crore. The project is to create an ecosystem to boost the IT\/ITeS landscape within the state through hi-tech next-gen big data technology projects consisting of data storage, data mining, data-analytics and data visualization.”
“We aim to make Uttar Pradesh the future data centre hub of the country and the targets have been kept high as investors have already shown interest. Groups like Hiranandani, which had earlier committed to Rs 9,000 crore Data Centre project, have committed another Rs 30,000 crore as they see prospects here,” added Kumar.
Sharing the response from industry bigwigs during roadshows, Kumar informed that we have received investment proposals of more than Rs 5 lakh crore at the Mumbai Roadshow. Over two dozen industrialists including Reliance Industries, Tata Sons, Adani, Godrej, Birla, Piramal, Vedanta, Parle, Hinduja, Lodha, and Ramki met the Chief Minister during his two-day visit to Mumbai.
“Reliance Industries has proposed big investments in electronics manufacturing and green energy sectors, including providing 5G internet connectivity across UP and better health services to villages in Uttar Pradesh with the help of artificial intelligence,” he added.
“Investment proposals worth over Rs 2.75 lakh crore at the Delhi Roadshow. The largest investment came from the UK-based Causis Group, which inked an MoU to invest Rs 1.25 lakh crore in the electric vehicle sector to establish an EV tech park and manufacture electric vehicles. REC Limited has proposed an investment of Rs 65,350 crore to set up a renewable energy unit.”
“As many as 79 MoUs with top companies for investment of over Rs 76,867 crore were signed at the Lucknow roadshow. The City Golden Corporation group proposed the biggest investment of Rs 26,000 crore in cement and ethanol projects. NexGen Energia was the second biggest investor with a proposal of Rs 15,000 crore in green gas energy. Varun Beverages<\/a>, the biggest bottling plant of PepsiCo outside the United States, has proposed an investment of Rs 3400 crore,” said Kumar.
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