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Global Investors Summit: Yogi Adityanath government closing in on ₹17-lakh crore investment target
MoUs worth about ₹10 lakh crore signed, investment proposals worth ₹15 lakh crore received, says Uttar Pradesh government
The Yogi Adityanath government in Uttar Pradesh is inching close to the ₹17 lakh crore target set for the Global Investors Summit 2023 (GIS 2023) scheduled in Lucknow for February 10-12, a state government spokesperson said on Thursday.
Uttar Pradesh has received investment proposals worth around ₹15 lakh crore while memorandums of understanding (MoUs) of nearly ₹10 lakh crore have already been signed even ahead of the summit, the spokesperson added.
“In fact, the government has already achieved the original target of ₹10 lakh crore, which was later scaled up to ₹17 lakh crore in view of the excellent response that the teams sent by CM Yogi to different countries received during roadshows and one to one meetings. With roadshows and investor summits yet to be held in various cities of the country, in divisional headquarters of the states, and many districts in the coming days, the target of
₹17 lakh crore appears easily achievable,” the spokesperson said.
According to information gathered till January 10, the government has signed MoUs worth ₹9.10 lakh crore. Two departments received the maximum investment through MoUs. The department of additional sources of energy, which had a ₹60,000 crore investment target, has signed MoUs worth over ₹1.73 lakh crore. Similarly, UP State Industrial Development Authority (UPSIDA) got a revised target of ₹1 lakh crore and has succeeded in signing MoUs worth more than that, said the spokesperson.
Till January 10, the tourism department has signed MoUs worth more than ₹38,000 crore. The energy department has signed MoUs worth over ₹75,000 crore, Yamuna Expressway Industrial Development Authority (YEIDA) over ₹57,000 crore and the IT and electronics department obtained MoUs worth ₹97,000 crore. The MSME sector has secured MoUs worth ₹55,000 crore and handloom and textile MoUs worth ₹27,000 crore.
According to the dashboard of the Nivesh Sarathi portal, the state government has received over 8,000 investment proposals and converted over 7,000 into MoUs with the potential to create 10 crore new employment opportunities in the state.
Still, more than 1400 investment proposals are in progress, whose total cost is ₹3.76 lakh crore.
Four companies of Japan and South Korea have signed MoUs with the Uttar Pradesh government for investment of ₹18,350 crore in the state, the spokesperson said. With this, 16,700 people will get employment in manufacturing, waste management and textile and clothing industries.
Last month, a U.P. government team led by tourism minister Jaiveer Singh went to Japan and South Korea to extend invitations for GIS-23. The team received nine investment proposals worth ₹25,456 crore, which are likely to generate 17,000 jobs and MoUs worth ₹18,350 crore have been signed on four of these proposals.
Japan India Industry Promotion Association and Nissenken Quality Evaluation Center Tokyo Laboratory will invest ₹2500 crore and ₹10,000 crore respectively in the textile and garment industries in U.P. This will result in the creation of 5000 and 10,000 jobs in the state, respectively.
In waste management, One World Corporation will invest ₹5,000 crore, creating 1500 jobs. Seiko Advance Limited will invest ₹850 crore in the manufacturing sector, creating 200 jobs, the spokesperson added.
