2.5 times rise in UP investment summit proposals

LUCKNOW:  With over 17,000 MoUs already signed and investment proposals worth Rs 27 lakh crore in the offing, the upcoming UP Global Investors Summit (GIS-2023), scheduled to be held from February 10 to 12 in Lucknow, is set to be one of the biggest business activities organised by the state government so far in Uttar Pradesh. The investment proposals bagged by the UP government ahead of GIS-2023 are almost 2.5 times of the initial investment target of Rs 10 lakh crore which was set for this year’s summit. 

As per the senior state government officials, the investment coming through GIS-2023 is likely to generate over two crore direct and indirect employment opportunities.  The most noticeable aspect of these proposals is that around Rs 7.16 lakh crore, which makes nearly 25% of all investments, are coming from abroad with investors showing a perceptible change in UP’s perception. 

In response to the business meets and road shows organised by the UP government delegation, led by Cabinet ministers, in 21 cities across 16 countries, the foreign investors signed around 108 MoUs expressing interest in majorly five of the 25 sectors data centre, logistics park, renewable energy, apparel and textiles and film city. Foreign investors have shown maximum interest in setting up data centres in the state by investing Rs 17,560 crore.

Logistics Park is at number two on priority list of the foreign investors who have signed MoUs for investment of Rs 16,810 crore. The investors would set up logistics service centres, BPO and training centre.