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WEF Davos meet: Invest UP inks ₹25K crore MoU with Essar Group
The investment relates to power and energy systems, logistics and warehousing, and data centres, aligned with India’s vision for resilient infra, next-gen digital ecosystems
The Invest UP delegation attending World Economic Forum 2026 meeting in Davos, Switzerland, on Thursday signed a memorandum of understanding (MoU) worth ₹25,000 crore with the Essar Group, marking one of the largest investment commitments secured by the state government.
The investment relates to power and energy systems, logistics and warehousing, and data centres, aligned with India’s vision for resilient infrastructure and next-generation digital ecosystems. Besides, the SA Technologies signed an MoU worth ₹200 crore with Invest UP to establish a Global Capability Centre (GCC) in the state.
The proposed GCC will support multinational enterprises through advanced IT services, digital transformation solutions, and innovation-led capability building, while creating high-value employment opportunities for youth.
In another key development, the NTPC Green Energy Limited signed a non-financial MoU with the state government for the development of renewable energy and green hydrogen projects. The delegation also participated in thematic roundtables on Clean Mobility & Energy Storage.
Suresh Khanna, UP finance minister, is leading the delegation. During the day, the delegation held focused business-to-government discussions with leading global organisations across AI and digital innovation, green hydrogen, global finance, advanced manufacturing, infrastructure development, clean-tech, healthcare, and public health partnerships.
UP delegation meets leading global companies
The state government’s delegation at the World Economic Forum (WEF) 2026 in Davos on Thursday held a series of strategic meetings with leading global corporations, institutions, and sector experts to explore partnerships across AI and digital innovation, clean mobility, semiconductors, energy transition, and healthcare.
On the fourth day of the WEF annual meeting, the delegation discussed business-to-government discussions with companies spanning advanced manufacturing, green hydrogen, global finance, IT services, infrastructure development, and clean-tech solutions.
Key engagements were held with organisations such as ElevenLabs, Essar Capital Advisory India, Verdagy, HCL Tech, RMZ Infrastructure, Marsh McLennan, Agilent, BlackRock, Invisible Technologies, Indian Oil, Gavi – the Vaccine Alliance, Google, BCG (Boston Consulting Group), Topsoe and Marlan Space among others.
The delegation also engaged with organisations working in healthcare delivery, vaccination partnerships, clean water innovation and global advisory services.
