Prime Minister Narendra Modi will inaugurate the Uttar Pradesh Global Investors’ Summit-2023 on February 10. He will also inaugurate the Global Trade Show and launch Invest UP 2.0.
UP Global Investors’ Summit 2023 is scheduled from February 10 to 12.
It is the flagship investment summit of the Uttar Pradesh government. It will bring together policy makers, industry leaders, academia, think-tanks and leaders from across the world to collectively explore business opportunities and forge partnerships.
Invest UP 2.0 is a comprehensive, investor-centric and service-oriented investment ecosystem in Uttar Pradesh that endeavours to deliver relevant, well defined, standardised services to investors.
UP has received investment proposals to the tune of Rs 21 lakh crore in the run-up to the UP Global Investors’ Summit (GIS) later this week. The government had already revised its initial investment target to Rs 17 trillion. The total job creation potential of these proposals, numbering more than 13,000, is pegged at about 18 lakh.
According to official sources, the manufacturing sector alone accounts for the lion’s share of 55 per cent or almost Rs 12 trillion of these proposals.
“Agriculture and allied sectors have logged investment proposals of 15 per cent, followed by textile 7 per cent, tourism 5 per cent, etc,” sources said.
These proposals were netted during a series of international and domestic investors’ roadshows held in the past two months at prominent global financial hubs spanning 16 countries, as well as Indian state capitals.
Chief Minister Yogi Adityanath had interacted with top Indian industry captains in Mumbai on January 5. This garnered investment proposals of Rs 5 lakh crore.
Earlier, the global roadshows had clocked investment proposals of about Rs 7 lakh crore from global biggies representing different continents and sectors. Recently, UP’s Additional Chief Secretary (Industrial Development) Arvind Kumar had briefed the UP industrial development minister about the investment road map ahead of the summit.
All major sectors, including manufacturing, infrastructure, education, tourism, textile, health, renewable energy, IT (information technology) and electronics, housing, logistics, medical, etc. have witnessed investment pipelines.
Meanwhile, the state has received 120 investment proposals of more than Rs 3,000 crore each, which collectively amount to almost Rs 14 trillion with an estimated employment potential of 1.1 million.
“Leading Indian business groups viz. Reliance Industries, Tata Sons, Adani, Godrej, Birla, Piramal, Lodha, Vedanta, Parle, Hinduja, etc. are bullish about the UP growth story and willing to partner the state in varied sectors,” a senior government official noted.
The GIS will give a major fillip to the UP’s trillion-dollar economy goal by hard-selling the landlocked state as an investment destination with unlimited potential in key sectors.