The Uttar Pradesh Global Investor Summit 2023 (UPGIS) is now just a few weeks away. As the state prepares itself for UPGIS 2023 to be held in February 2023, several representatives and delegates have been sent to select countries as convoys by the Yogi Adityanath-led government to rope-in investments. According to latest updates, a nine-day long foreign tour fared well for all and the state has managed to receive proposals worth thousands of crores.
Major investors from Germany, Belgium and Sweden are also expected to be a part of the UPGIS 2023. On this tour, the Industrial Development Minister Nand Gopal Gupta Nandi, Public Works Minister Jitin Prasad and several other officials met entrepreneurs and companies that ultimately also led to the signing of several MoUs.
The Uttar Pradesh government, led by Chief Minister Yogi Adityanath has also said that the state is headed towards new possibilities and is poised to become the ‘growth engine of the country.’ Representatives have also shared that agreements have been signed for the establishment of several massive units, including units of manufacturing facilities, waste-to-energy units, wellness centres, IT centres and so on.
Expected Investment Boom In UP
According to Minister Nandi, the road shows in all countries were very successful and highly inspired by the vision of both Prime Minister Narendra Modi and UP CM Yogi Adityanath. He also added that entrepreneurs and investments from the following sectors will step in during UPGIS 2023 - pharmaceuticals, business chamber, business development, investment, capital market, vehicle motor industry, technology, R&D, telecom and food processing as well as industries related to defense sector.
Additionally, Belgian investors from the fields of electric vehicle, solid waste management, food processing etc., will also set in for UP Global Investor Summit 2023. Several Belgian Beverages have also been invited to set up their distilleries and wine industries here.
Out of all the prospective investments, it is Sweden’s IKEA that is getting the most traction. As per the official release, IKEA has expressed willingness to invest Rs 4,000 crores to open retail stores and malls in Uttar Pradesh. Even Sweden’s arms manufacturing company is expected to set up a weapons plant in the state.
Mentioning that Uttar Pradesh is passing through an important stage of industrial development, the minister said, “We are getting full cooperation from Indian embassies and diplomats abroad and for this, we also express our special gratitude to the Prime Minister and the Ministry of External Affairs.”