UP industrial development authority receives investments worth Rs 3 trn

According to the officials, "The Chief Minister Yogi Adityanath-led government is upbeat with the UPSIDA as investment set by Yogi government is three times higher than the target of Rs 1 trn"

The much-anticipated three-day Global Investors Summit (GIS 2023) which is aimed at giving a shot in the arm to the Uttar Pradesh government's quest for overall development will start on Friday in Lucknow.

Ahead of Global Investors Summit (GIS 2023), the Uttar Pradesh State Industrial Development Authority (UPSIDA) received investments worth Rs 3 trillion from 53 districts, 10 states and four countries which will also create 9 lakh employments for the youth of Uttar Pradesh.

According to the officials, "The Chief Minister Yogi Adityanath-led government is upbeat with the UPSIDA as investment set by Yogi government is three times higher than the target of Rs 1 trillion."

The investment proposals received include a foreign capital investment of Rs 90,000 crores from countries such as the US, Hong Kong, Singapore and the UAE.

Officials said that the authority has also received investments worth Rs 1.53 trillion from other states in India.

Meanwhile, the investments proposed are for different sectors including health, hospitality, logistics parks, warehouses as well as industrial units.

The officials further stated, "An investment of Rs 82,000 crore will be made for establishing logistics parks and warehouses alone."

According to the official statement, "The investors meets held in Prayagraj, Hapur, Ghaziabad, Agra, Bareilly, Meerut, Kanpur and Ayodhya have received investment proposals worth Rs 33703 crores, Rs 23000 crores, Rs 92,000 crores, Rs 39,038 crores, Rs 34,000 crores, Rs 17,000 crores, Rs 70,000 crores, and Rs 17,000 crores respectively."

The CEO of UPSIDA Mayur Maheshwari said, "MoUs are being signed continuously for investment. The land will be made available to all those who have signed the MoU. Full cooperation will be extended to ensure that there is no hindrance in investment."

Notably, the three-day Global Investors Summit 2023 will start on Friday that will be inaugurated by Prime Minister Narendra Modi.

The flagship investment summit of the UP government will bring together policymakers, industry leaders, academia, think tanks and leaders from across the world to explore business opportunities and forge partnerships collectively.

During the course of the summit, there will be a total of 34 sessions. Of these, 10 sessions will be on the first day, 13 on the second and 11 on the last day.

Prime Minister Narendra Modi, Defence Minister Rajnath Singh, UP Chief Minister Yogi Adityanath and state Industrial Development Minister Nand Gopal Gupta Nandi as well as industrialists Mukesh Ambani, K. Chandrasekaran, Kumar Mangalam Birla and Anand Mahindra will address the inaugural session of the summit.

The chief guest at the closing ceremony will be President Droupadi Murmu.