Uttar Pradesh: Manufacturing sector hot choice of investors ahead of Global Summit

LUCKNOW: Western UP is leading with 45 per cent of the total proposals and MoUs signed, of the investment proposals worth Rs 21 lakh crore received so far by the Uttar Pradesh government in the run-up to the Global Investors’ Summit (GIS- 2023) scheduled for February 10-12.

According to official sources, western UP is followed by the eastern region with 29 per of the total proposals. Central UP and Bundelkhand have received 13 per cent proposals each.

Moreover, while the investment proposals range across 25 different sectors, the manufacturing sector leads the tally as it has bagged around 56 per cent of the total investment proposals. In the wake of the state government’s initiative towards ‘Ease of Doing Business’ and ‘Ease of Starting Business’, various domestic and foreign companies have expressed interest in setting up their manufacturing units, said a senior government official.

After the manufacturing sector, agriculture has received 15 percent of the total investment proposals and MoUs. Infrastructure is at the number three position with eight percent investment proposals. It is followed by textile at fourth with 7 per cent and tourism at fifth with 5 per cent. Apart from this, investment proposals and MoUs have also been received for investment in sectors including Education, IT & Electronics, Healthcare, Warehousing & Logistics, Renewable Energy and Pharmaceuticals & Medical Devices.

Meanwhile, Chief Minister Yogi Adityanath, on Sunday, inspected the main venue for the mega event, the countdown for which has already begun. Notably, the UP Global Investors Summit is expected to host leading business captains, and numerous investors from across the globe along with VVIPs including President Droupadi Murmu and PM Narendra Modi.

While Prime Minister Narendra Modi is expected to inaugurate the event on February 10, President Murmu is likely to attend the valedictory session on February 12. The entire venue has been divided into seven blocks to host 10,000 guests in one stretch.

Besides a food court, there is a VIP lounge, and lounges for partner countries, industry partners and knowledge partners.  Adjacent to this, another block is there with four hangars to conduct sessions of different departments simultaneously.

Sector-wise break-up of investment proposals received so far :

Manufacturing 56%
Agriculture & Allied 15%
Infrastructure 8%
Textile 7%
Tourism 5%
Education 3%
IT & Electronics 2%
Healthcare 1%
Warehousing & Logistics 1%
Renewable Energy 1%
Pharmaceutical & Medical Devices 1%