U.P. exceeds targets, receives ₹21L cr in investment proposals

The Uttar Pradesh government on Friday said it has received investment proposals worth ₹21 crore ahead of the Global Investors' Summit-2023 (UPGIS-2023), following the investment-friendly environment created in the state under the leadership of Chief Minister Yogi Adityanath.

UPGIS-2023 is scheduled in Lucknow from 10 to 12 February 2023. The state government has set a target of attracting investment proposals of ₹ 10 crore for UPGIS-2023. The target was revised upwards to ₹17.3 crore. Claiming to receive investment proposals of ₹21 crore, the state government has exceeded its targets. Yogi has set a goal of making Uttar Pradesh a trillion dollar economy in the next five years.

According to the press release, the manufacturing sector is in first place with almost 56 percent of the total investment proposals. Various domestic and foreign companies are planning to expand or set up their businesses in Uttar Pradesh, keeping in mind the "ease of doing business" and "ease of starting a business" in the state, he said.

The agriculture sector is in second place with 15 percent of total investment proposals, while infrastructure remains in third place with 8 percent of investment proposals. The textile sector remains in fourth place with 7 percent, while tourism is fifth with 5 percent of total investment proposals. Investment proposals have been received in sectors such as education, IT and electronics, healthcare, warehousing and logistics, renewable energy and pharmaceuticals and medical devices.

State government policies, including industrial development and MSME policies providing relief to the manufacturing sector, have helped attract investors. The state government has drafted 25 sectoral policies ahead of UPGIS-2023.The chief minister has sent eight teams abroad led by two deputy chief ministers, Keshav Prasad Maurya and Brajesh Pathak, to hold international road shows to attract investment.

Later, Yogi conducted roadshows in Mumbai and sent teams to seven other major cities to conduct home roadshows. It may be mentioned that all investment proposals do not necessarily translate into on-site investments.

Sectoral distribution of investment proposals

Manufacturing 56%

Agriculture and Allies 15%

Infrastructure 8%

Textile 7%

tourism 5%

education 3%

IT and electronics 2%

Healthcare 1%

Warehousing and logistics 1%

Renewable energy 1%

Pharmaceutical and medical devices 1%

Western Uttar Pradesh received 45 percent of the total investment proposals.

Breakdown by region

West UP – 45%

East UP 29%

Central UP 13%

Bundelkhand 13%