UP Government Delegation signs MOU worth Rs 25,000 in B’lore

UP Government Delegation signs MOU worth Rs 25,000 in B’lore

A delegation from Uttar Pradesh on Monday signed MoUs worth Rs 25,000 crore with 33 entrepreneurs and companies during its Bengaluru leg of the UP Global Investor Summit 2023 (GIS 2023).

Top Uttar Pradesh ministers, including Deputy Chief Minister Keshav Prasad Maurya, were in Bengaluru to meet and invite Karnataka-based industrialists and investors to invest in UP. Maurya and his team are currently scouring the country to attract investment worth Rs 17 lakh crore to the State GIS 2023 to be held in Lucknow next month.

During the Bengaluru tour, CM Yogi Adityanath said in a video message that UP is endowed with rich natural resources and is a leading state in ease of doing business with good governance, zero tolerance towards crime and Corruption. It has the largest consumer market and one-stop portal Nivesh Mitra, as well as investment-friendly policies.

“UP is the best place to invest in all aspects and is on its way to becoming the second largest economy in the country. In line with the Prime Minister’s resolution, the UP is ready to accelerate India’s economic growth,” the CM remarked.

During the roadshow event, information about investment opportunities in UP was given to investors in the audience through video films. Commissioner for Infrastructure and Industrial Development Arvind Kumar enumerated the opportunities and benefits of investing in Uttar Pradesh through a presentation. Manoj Gupta, Chairman, MKU Limited and Ullas Kamath, Chairman, FICCI Karnataka shared their investment experiences in Uttar Pradesh. Kamath said infrastructure development in UP over the past 8 years has been much faster than in China.

Addressing investors during the program, Chief State Secretary Durga Shankar Mishra said Uttar Pradesh guarantees all the facilities they would need to invest in UP. He said Prime Minister Narendra Modi has set a target to make the country a $5 trillion economy and Chief Minister Yogi Adityanath has pledged to contribute $1 trillion from Uttar Pradesh to achieve this goal.

Monday’s B2G meetings started with important sessions with companies like Infosys and Ola. This was followed by Team Yogi’s meetings with President of Federation of Karnataka Chamber of Commerce BV Gopal Reddy and KisanKraft Managing Director Ravindra Aggarwal. Infosys General Affairs Director Santosh Ananthapura and Ola Electric Managing Director Mohit Sevakramani and Group Finance Director GR Arun Kumar met with Deputy Director Keshav Prasad Maurya and offered investment in UP .

Ravindra Agarwal, Chairman of Kisan Craft Limited, had said that his company was interested in investing in the agricultural sector in UP, adding that research was also being carried out on seeds. “Chief Minister Yogi Adityanath has changed the way people think about Uttar Pradesh. Our company is very excited about investing in UP’s change,” he said.

Speaking to BW Businessworld on the sidelines of the Bengaluru roadshow, Yogendra Upadhyaya, UP Minister of Higher Education, Science and Technology and Electronics and Information Technology, said: “UP GIS 2023 will not only meet the target set by CM Yogi Adityanath of Rs 17 lakh crore. We will actually exceed it.”

Team Yogi had launched its national tour for UP GIS 2023 from Mumbai earlier this year and has so far taken place in seven cities including Chennai, Kolkata, Delhi, Hyderabad and Ahmedabad.

The UP GIS has also attracted interest from investors from other countries who have collectively pledged to invest more than Rs 7 lakh crore in the state.