UP Govt Gets Investment Proposals Worth Rs 2.75 Lakh Crore At Delhi Roadshow

Uttar Pradesh continues to receive investment proposals from not just global investors, but domestic investors as well. The state government received investment proposals worth Rs 2.75 lakh crore at the roadshow held in Delhi on Friday. The roadshow had been organised as a prelude to the UP Global Investors’ Summit. It saw some of the biggest names joining hands with the state government.  

The biggest investment proposal came in the electric vehicle sector. UK based Causis Group signed an MoU to invest Rs 1.25 lakh crore. The company would be building an EV Tech Park in Uttar Pradesh, that would be giving employment to 30,000 people from the state.  

REC Limited, a navratna company under the Ministry of power, has proposed an investment of Rs 65,350 crore for setting up a unit in the renewable energy sector. Yashoda Super Specialty Hospital will invest about Rs 500 crore in building a Biotech Park and 300-bed hospital in Greater Noida, while Yashoda Medicity will invest Rs 800 crore to set up a new hi-tech hospital with a capacity of 1200 beds in Ghaziabad. A formal agreement has been made for this.  

Apart from these, clearances were also given for major investment agreements with NTPC Limited, Ananda Dairy, JBM Group and more. Sharing her views on the investment opportunities and ease of doing business in UP, Sangeeta Kaushik, General Manager of NTPC said, “We have had a very productive and useful relationship with Uttar Pradesh. We wish to continue this relationship further and we are very happy with these initiatives by the Yogi Adityanath government which is giving us even more confidence in investing in UP.” “NTPC has the largest floating solar capacity in India and we are trying to explore the potential of reservoirs by setting up floating solar in Uttar Pradesh also,” Kaushik added.

PR Kumar, MD & CEO, Noida Power Company appreciated the improved law and order situation of the state. “The law-and-order situation has been brought under control which was a big worry of all industrial houses. We are very excited about the opportunities in Uttar Pradesh. The government under Yogi Adityanath Ji has been bringing industry friendly policies,” he said.  

Satish Kumar, director of AB Mauri Group said, “We have invested Rs 11,000 crore in UP and have set up a plant in Pilibhit. Two years ago, the company was looking for a suitable tier II city for investment and setting up the plant, and the facilities given by the UP government encouraged us to invest here.”  

The roadshows are being held as a prelude to the UP Global Investors Summit, which is being organised by the state government in Lucknow from February 10 to 12, 2023. The Adityanath-led UP government has set a target of an investment of Rs 10 lakh crore with this event.   

The Delhi roadshow was addressed by India's G-20 Sherpa Amitabh Kant, Industrial Development Minister Nand Gopal Gupta Nandi, Basic Education Minister Sandeep Singh, Urban Development and Energy Minister AK Sharma, Chief Secretary of UP Durgashankar Mishra, Director General of Confederation of Indian Industry Chandrajit Banerjee and other dignitaries.  

Kant said that in the last eight years “maximum reforms have been done in various fields in UP”. India is the fastest growing economy in the world and UP is accompanying it at every step. “I have full faith that UP will become the driver of India's development. The whole world will get acquainted with the new UP through an important event like G-20,” Kant added.