Uttar Pradesh delegation holds roadshow in Chennai ahead of Global Investors Summit-2023
Chief minister Yogi Adityanath, who led a roadshow in Mumbai and got investment proposals worth ₹5 lakh crore last week, has deputed Uttar Pradesh teams to hold roadshows in major cities.
An Uttar Pradesh government team led by minister for finance Suresh Khanna on Monday held a roadshow in Chennai to attract investment ahead of the Uttar Pradesh Global Investors Summit-2023 scheduled in Lucknow from February 10 to 12.
Chief minister Yogi Adityanath, who led a roadshow in Mumbai and got investment proposals worth ₹5 lakh crore last week, has deputed Uttar Pradesh teams to hold roadshows in major cities. Yogi Adityanath had sent eight teams abroad to hold international roadshows in 21 cities across 16 countries in December.
According to an official press release, Khanna met Murugappa Group’s vice chairman MM Murgappan and discussed investment proposals. Murugappa Group, working in the field of agro and financial services, has expressed the desire to invest in Uttar Pradesh. The group can invest in sugar mills, fertiliser plants and organic farming apart from loan, insurance, risk management sectors.
Uttar Pradesh ministers Aseem Arun, Nitin Agarwal and Narendra Kashyap were also present there.
The U.P. team also met Indira Projects CMD Bhupesh Nagarajan, working in the field of infrastructure, synthetic biology and renewable energy. His company has signed a not-binding memorandum of understanding worth ₹300 crore. A meeting was held with Sreedharan, representative of A. Ganesan, vice chairman of Trivitron Company. He expressed willingness to invest in the healthcare sector. Praveen Group CMD Mohammad Afzal met Khanna and expressed willingness to invest in hospitality, transport and logistics sectors.
Others who the U.P. team met included T Srinivasan from MEL Systems and Services, Shiju Purushottam from Empy and Hilton Group, and Amarnath from Patterson Energy who have shown interest in investment in defence, hotels and distilleries and renewable energy sectors respectively. Professor Chandram Shivaji, vice chancellor, Savita University, has shown interest in investing in the higher education sector in U.P.
Kumaran Mani from Tenth Planet Technology, Karthik Rajan from Colliers, Gautman from Setex Pharma, Rufiq Ahmed from Farida Group, Nandkumar from Nanvin Energy and Nitin Sheroff from Microchem Products India also reached Chennai to meet the U.P. team.
This is for the first time in recent years that an Uttar Pradesh team has gone to Chennai to invite entrepreneurs. The investors termed the recent Kashi Tamil Sangamam in Varanasi as a very positive effort in enhancing ties between the two states.
The entrepreneurs who attended the meeting were enthusiastic about investment prospects and expressed interest to invest in transportation services that would link the religious cities of Uttar Pradesh. They also expressed interest in investing in the higher education sector. Entrepreneurs also expressed enthusiasm for investment in the defence sector, financial services, hotels and distilleries, renewable energy, health care, and sugar mill industries.
‘Simpler to get approvals in U.P. now’
Amarnath, an entrepreneur running Patterson Energy in the field of plastic waste management, said that his company is already working in U.P. “Our company is working in the field of plastic waste management in collaboration with the Municipal Corporation, Mathura.” He called the experience of working with the Yogi government pleasant. He noted it had become much simpler now to obtain any form of approval to set up an industry in Uttar Pradesh.
Interest in petrochemicals sector
The managing director of Cetex Petrochemicals, S. Ilanahai, described his meeting with the ministers and officials of the Yogi government as a “great experience” and said, “Uttar Pradesh has enormous potential in the chemical sector after Gujarat and Maharashtra. Our company wishes to invest in the petrochemicals sector in UP. Two large petrochemical plants are located in the large state of UP. We believe this is the ideal time to make an investment in Uttar Pradesh.”
Defence corridor
T Srinivasan, managing director of MEL System and Services, said his company has been working in the defence sector for 27 years. “Our company is interested in investing in the defence corridor being built in Uttar Pradesh. Under the direction of chief minister Yogi Adityanath, a lot of changes have taken place in Uttar Pradesh. The cities of U.P. are now cleaner than they were previously, and the road infrastructure has also improved significantly. Our company is very excited to invest with the Government of Uttar Pradesh.”
