UP GIS-23: 56% investment proposals received in manufacturing sector

Owing to the investment-friendly environment developed in UP under the Yogi Adityanath government, ahead of the Global Investors Summit (UPGIS), to be held on February 10-12, the state has succeeded in attracting investment proposals worth Rs 21 lakh crore so far, stated an official release.

The Manufacturing sector among all other sectors has attained close to 56 per cent of the total investment.

As per an official release, in view of the mantra given by Chief Minister Yogi Adityanath regarding 'Ease of Doing Business' as well as 'Ease of Starting Business', various domestic and foreign companies are planning to expand their business in UP by setting up their manufacturing units here.

Chief Minister Yogi Adityanath set a goal of making Uttar Pradesh a $1 trillion economy in the next five years.

UP Global Investors Summit is being organised in February to achieve this goal. Prior to the event, several teams of ministers and officials invited investors to the UPGIS through roadshows in 21 cities of 16 countries, as well as major metropolitan cities in the country, on the Chief Minister's instructions. Also, during the B2G meetings, discussions were held with the business community regarding investment in the state.

The response received portrayed the overwhelming interest of various domestic and international firms in establishing manufacturing units in the state. According to the information received, most investment proposals and MoUs have been received in the manufacturing sector.

"Following the manufacturing sector, the agriculture sector has attained 15 per cent of the total investment proposals and MoUs. Infrastructure is third with 8 per cent, followed by textile at fourth with 7 per cent and tourism fifth with 5 per cent. Apart from this, investment proposals and MoUs have been received in sectors like Education, IT and Electronics, Healthcare, Warehousing & Logistics, Renewable Energy and Pharmaceuticals and Medical Devices," it read.

Yogi government's policies have an important contribution to the enthusiasm seen among the investors regarding the manufacturing sector. In policies like industrial development and MSME, the government has provided many reliefs to the manufacturing sector in the state.

According to an official release, the western part of the state which is also known as the Paschimanchal has been leading in terms of receiving investment. 45 per cent of the total investment proposals and MoUs have been received exclusively in this region.