Global Investors Summit 2023: UPSIDA Receives Investment Proposals Three Times The Target (2024)

Preparations in the final stage for the UP Global Investors Summit 2023 in the Vrindavan Yojana area of Lucknow, Wednesday night, Feb 8, 2023. ( Image Source :PTI )

The Global Investors Summit 2023 is all set to begin in Lucknow, as the Uttar Pradesh government aims to launch the state onto the path of becoming a $1 trillion economy. Ahead of the much-anticipated event, the Uttar Pradesh State Industrial Development Authority (UPSIDA) has already attracted investments worth a staggering Rs 3 lakh crore or $41 billion from 53 districts, 10 states, and 4 countries.

Investment Proposals Worth Three Times Target

The investment proposals received are three times higher than the target set by the Yogi Adityanath-led government, which was Rs 1 lakh crore. The investments are expected to create around 9 lakh jobs for the youth, making the government optimistic about the event.

The investment proposals include a foreign capital investment of Rs 90,000 crore from countries like the US, Hong Kong, Singapore, the UAE, and others. The authority has also received investments worth Rs 1.53 lakh crores from other states in India.

The proposals received cover a diverse range of sectors, including health, hospitality, logistics parks, warehouses, and industrial units. An investment of Rs 82,000 crore will be made for the establishment of logistics parks and warehouses alone, making it a significant contribution to the state's economy.

Land Bank Ready For Investors

To accommodate the investors, UPSIDA has prepared a land bank of more than 15,000 acres in various industrial areas, and an additional 2500 acres of land will soon be added to the bank. The Transganga Hi-Tech City in Unnao and the park in Kannauj are being set up at a fast pace, and the authority is informing investors about the online facilities and other facilities available in industrial areas.

Investors Meet Yield Satisfactory Results

Investors' meets held in various districts, including Bareilly, Agra, Ghaziabad, Hapur, Prayagraj, and Kanpur, among others, have received investment proposals worth a total of Rs 33,703 crores, Rs 23,000 crores, Rs 92,000 crores, Rs 39,038 crores, Rs 34,000 crores, Rs 17,000 crores, Rs 70,000 crores, and Rs 17,000 crores, respectively.

CEO of UPSIDA, Mayur Maheshwari, assured investors of full cooperation from the authority and stated, "MoUs are being signed continuously for investment, and land will be made available to all those who have signed the MoU. Full cooperation will be extended to ensure that there is no hindrance in investment."

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