U.P. exceeds targets, gets investment proposals of ₹21L cr

The state government had set a target to attract investment proposals of ₹10 lakh crore at the UPGIS-2023. The target was revised upwards to ₹17.3 lakh crore. With claims of getting investment proposals of ₹21 lakh crore, the state government has exceeded its targets.

Lucknow: The Uttar Pradesh government said on Friday that it had received investment proposals worth ₹21 lakh crore ahead of the Global Investors’ Summit-2023 (UPGIS-2023), following investment-friendly environment that had been created in the state under the leadership of chief minister Yogi Adityanath.

CM Yogi has set a target of making Uttar Pradesh a trillion-dollar economy in the next five years. (Pic for representation)

UPGIS-2023 is scheduled in Lucknow from February 10-12, 2023. The state government had set a target to attract investment proposals of ₹10 lakh crore at the UPGIS-2023. The target was revised upwards to ₹17.3 lakh crore. With claims of getting investment proposals of ₹21 lakh crore, the state government has exceeded its targets.

Yogi has set a target of making Uttar Pradesh a trillion-dollar economy in the next five years.

According to a press release, the manufacturing sector with close to 56 per cent of the total investment proposals stands first. Various domestic and foreign companies are planning to expand or set up their businesses in Uttar Pradesh, keeping in view the ‘ease of doing business’ as well as the ‘ease of starting business’in the state, it said.

The agriculture sector is at second place with 15 per cent of the total investment proposals while infrastructure remains at third place with 8 per cent investment proposals. Textile sector with 7 percent remains at fourth place while tourism comes fifth with 5 percent of total investment proposals. The investment proposals have been received in sectors like education, IT and electronics, healthcare, warehousing and logistics, renewable energy and pharmaceuticals and medical devices.

The state government’s policies, including the industrial development and MSME policies providing relief to the manufacturing sector, have contributed o attracting the investors. The state government has worked out 25 sectoral polices ahead of the UPGIS-2023.

The chief minister had sent eight teams led by two deputy chief ministers, Keshav Prasad Maurya and Brajesh Pathak, abroad to hold international roadshows to attract investment. Later, Yogi led a roadshow in Mumbai and sent teams to seven other major cities to hold domestic roadshows. It may be mentioned that all the investment proposals do not necessarily translate into investment on the ground.

Sector-wise break-up of investment proposals

Manufacturing 56%

Agriculture and allied 15%

Infrastructure 8%

Textile 7%

Tourism 5%

Education 3%

IT and Electronics 2%

Healthcare 1%

Warehousing & Logistics 1%

Renewable Energy 1%

Pharmaceutical and Medical Devices 1%

Western Uttar Pradesh has received 45 per cent of the total investment proposals.

Region-wise break-up

West UP - 45%

East UP 29%

Central UP 13%

Bundelkhand 13%