UP govt geared up for GIS

| | Lucknow
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UP govt geared up for GIS

Wednesday, 08 February 2023 | PNS | Lucknow

The Uttar Pradesh government is all geared up for the UP Global Investors’ Summit-2023 from February 10. President Droupadi Murmu and Prime Minister Narendra Modi are likely to attend the three-day mega event.

The state government, led by Chief Minister Yogi Adityanath, is all set to host the event which is likely to see the participation of global investors and around 20 Union ministers, including Home Minister Amit Shah, Finance Minister Nirmala Sitharaman and Defence Minister Rajnath Singh. The prime minister and the president are likely to attend the opening and closing ceremonies respectively.

The Yogi Adityanath government has set a target of Rs 21-lakh crore investments through the summit. To attract investment from across the globe, the UP cabinet ministers visited 16 countries and held roadshows in different cities where 108 MoUs worth over Rs 7 lakh crore were signed.

Potential foreign investors evinced interest in the top five sectors of the economy, including data centres, logistic parks, renewable energy, apparel & textiles and film city.  Most of the investors are keen on investing in data centres with a potential of over Rs 17,000 crore. The second priority sector is logistics park where the investors are likely to invest over Rs 16,000 crore.

 A data centre is already working at Greater Noida. The robust institutional framework created by the UP government has attracted interest from overseas investors.  During the roadshows in Singapore and Australia, MoUs worth Rs 8,260 crore and 1,000 crore, respectively, were signed.  

During the roadshows in the UK and the USA, MoUs for an investment of Rs 8,300 crore were signed. The total worth of the MoUs for the data centre is Rs 17,560 crore .The investments will go a long way in helping Greater Noida emerge as a data centre hub.

The second priority sector for the global investors is logistics park where MoUs worth Rs 16,810 crore have been signed. During the roadshow in the United Arab Emirates, MoUs worth Rs 1,300 crore were signed while in Canada and the USA, the investors pledged to invest Rs 8,200 crore. MoUs worth Rs 1,000 crore for investment in logistic service were signed during the roadshows in Singapore and Australia.

The third priority sector for the foreign investors is renewable energy. During the roadshow in the UAE, Green Energy Ventures signed MoUs for investing Rs 4,480 crore while Siddarth InfoTech pledged to invest Rs  8,000 crore. During the roadshows in Germany, Belgium and Sweden, companies signed Rs 1,000-crore MoUs.

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