In a groundbreaking move, Ayodhya is set to witness a massive economic transformation with the largest-ever investment in a single district in India. British conglomerate Trafalgar Square Capital has pledged a staggering `75,000 crore to establish cutting-edge defence manufacturing units in Ayodhya.
The landmark decision was cemented through the signing of five Memorandums of Understanding (MoUs) between the company and local authorities.
Trafalgar Square Capital is among the five major multinational companies expressing keen interest in Uttar Pradesh under the Foreign Direct Investment (FDI) policy. The distinguished list includes the Hong Kong-based Taushan International Group, RG Group, Austin Consulting Group, Cosis Group, Indo European Chamber of Small and Medium Enterprises, Britain’s Trafalgar Square Capital Group, ABC Cleantech, and Unicorn Energy from Germany.
Trafalgar Square Capital’s strategic choice of Ayodhya for its ambitious venture is set to have a profound impact on the region’s economic landscape. The colossal investment is expected to generate a substantial employment boost, creating at least 26,000 new jobs.
Notably, this investment in defence manufacturing units breaks new ground, occurring outside the conventional defence corridor. The `75,000 crore investment in a single district is unprecedented in the country, highlighting Ayodhya’s emergence as a key player in the industrial sector.
Germany’s Unicorn Energy is also set to make substantial investments in Uttar Pradesh, venturing into Lucknow and Jaunpur with two solar energy projects valued at approximately `42,000 crore. These initiatives are projected to employ around 2,200 individuals, further contributing to the State’s economic growth. Adding to the solar energy influx, the GMR Group has sealed an MoU worth `40,000 crore for solar energy investment, with the specific location yet to be determined.
The Aditya Birla Group is set to infuse `25,000 crore into the State economy by establishing a large textile and readymade unit, promising significant contributions to the local manufacturing sector.
In another significant development, the Hinduja Group has committed `25,000 crore to ventures in the film, media, and solar energy sectors, building on their earlier agreement with Ashok Leyland for electric vehicle production.
Locations for these investments are yet to be finalised.
The National Thermal Power Corporation (NTPC) has also made substantial strides by signing six MoUs, directing `74,000 crore towards solar power and energy projects in Jhansi, Sonbhadra, and Prayagraj. This marks a significant step in expanding the renewable energy portfolio in the state.
As Uttar Pradesh emerges as a magnet for global investments, these transformative initiatives promise to reshape the economic landscape of the region, setting Ayodhya on a trajectory of unprecedented growth and development.
