LUCKNOW: Uttar Pradesh has so far received intents of investment worth over Rs 32.92 lakh crore after inking more than 18,000 agreements at the Global Investors Summit-2023, surpassing the records of investments received by other states, including Gujarat and Madhya Pradesh.
With investment proposals of this magnitude coming to UP, the state government has estimated creation of 92 lakh jobs opportunities. “If realised, these many jobs will be a record,” says a senior state government official.
As per officials, the Vibrant Gujarat summits have fetched investment proposals worth a maximum of Rs 15 lakh crore. Similarly, the Invest Madhya Pradesh meet organised in January this year had logged investment proposals to the tune of Rs 15 lakh crore. The Shivraj Singh Chouhan government had promised 29 lakh jobs. Similarly, the Ashok Gehlot government in Rajasthan had received Rs 11 lakh crore investment proposals with a promise of 10 lakh jobs at the summit organised in October 2022.
In Odisha also, at the 2022 investors summit, investment intents worth Rs 10 lakh crore were received by the Naveen Patnaik government, while in the Karnataka business summit in 2022, proposals for investment worth Rs 9.8 lakh crore were submitted.
According to Industrial Development Commissioner Arvind Kumar, the investment proposals are likely to cross the figure of Rs 34 lakh crore after the agreements of Rs 75,000 crore signed with Reliance Industries Ltd and Rs 25,000 crore inked with the Hinduja group.
The state government authorities say the worth of investment proposals received so far by the Uttar Pradesh government is 40% more than the total Gross Domestic Product of the state, as it is estimated to be around Rs 21 lakh crore in financial year 2022-23.
The UP government had set an initial target of Rs 11.25 crore which was revised to Rs 17.3 lakh crore after the road shows held by the ministers of the Yogi Adityanath government across 21 cities of 16 countries. Now the target has been left far behind with the incoming intents. The UP Global Investors Summit comes ahead of similar business meets in other states, including Andhra Pradesh which has planned a meet in Vishakhapatnam on March 3-4, followed by Maharashtra later this year.