Foreign investors evince keen interest to invest in five sectors: U.P. govt

The Uttar Pradesh government on Tuesday said foreign visitors have evinced keen interest to invest in five out of 25 sectors in the state ahead of Uttar Pradesh Global Investors’ Summit-2023. According to a press release, the five sectors include data centre, logistics park, renewable energy, apparel and textile besides the Film City.

Chief minister Yogi Adityanath had sent eight teams abroad to hold international roadshows in 21 cities of 16 countries to attract investment in run-up to the UPGIS-2023 scheduled in Lucknow from February 10 to 12.

In all, 108 memorandums of understanding (MoUs) worth 7.12 lakh crore were signed there. The investment proposals, when implemented, are expected to generate employment for 7 lakh youth in the state.

An investment of more than 17,000 crore has been proposed for setting up a data hub thereby making the sector first choice of investors. The second priority has been the logistics park.

According to the press release, the policies of the Yogi government have led to setting up of the first data centre in Greater Noida. At roadshows held in Singapore and Australia, Global State Capital Pvt Ltd showed interest in investing 8,260 crore to build a data centre in the state and Star Consortium Private Limited worked out a proposal for investment of 1,000 crore. At the roadshows in the UK and the USA, Sify International proposed investment of 8,300 crore.

In the logistics park sector, investment proposals for 16,810 crore have been signed. These included investment proposals for over 8,200 crore received at Canada and the USA and proposals for 1,000 crore received in the logistics services at the roadshows in Singapore and Australia.

At the roadshow in the UAE, Aastha Green Energy Ventures Private Limited proposed an investment of 4,480 crore while Shree Siddharth Infratech and Services has made an action plan to spend 8,000 crore. Boson Energy SA has proposed to invest 1,000 crore at the road shows in Germany, Belgium and Sweden. The Geothermal Core Inc proposed to set up a renewable energy plant with 820 crore.

Fourth priority sector includes apparel and textile. At Japan and South Korea, Japan India Industry Promotion Association signed MoU worth 2,500 crore and Nisenken Quality Evaluation Centre signed an MoU of 10,000 crore. An investment of 12,500 crore has been thus proposed in this area. The film industry stands on the fifth sport as during roadshows in Germany, Belgium and Sweden, International Group AB decided to invest 10,000 crore in the Film City in the state.