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Yogi, deputy chief ministers to lead teams on investment road shows abroad
U.P. govt hopes to attract ₹10 lakh crore investment at Global Investors Summit to be organised in Lucknow in January 2023
The Uttar Pradesh (U.P.) government is stepping up efforts to send high-level teams to nearly 20 or more countries to hold international road shows there ahead of the proposed Global Investors Summit-2023 (GIS-23).
The U.P. government hopes to attract investment of ₹10 lakh crore at GIS-23 to be organised in Lucknow in January 2023.
“Yes, we will be sending five to six teams to hold road shows in 20 or more countries. Besides chief minister Yogi Adityanath, deputy chief ministers Keshav Prasad Maurya and Brajesh Pathak and ministers will lead the teams to be sent by October-November 2022. We will be soon working out routes for the teams and ministers heading different departments will visit the countries from where possible investment may be made in the sector linked to their departments,” said Arvind Kumar, infrastructure and industrial development commissioner (IIDC), Uttar Pradesh.
Kumar did not share the list of possible destinations to attract investment for the state government’s teams.
“At this stage, we cannot share the list of countries to be visited as new destinations may be added and the ones that figure on the list now may be deleted from the same in coming weeks,” he said.
“We are also getting in touch with different embassies/high commissions as and when required,” he added.
Those aware of developments in the infrastructure and industrial development department said the road shows are likely to be organised in the USA, UK, Canada, Singapore, UAE, Sweden, Netherlands, Israel, France, Germany, South Korea, Mauritius, Russia and Australia. There are indications that advance teams comprising government officials and representatives of industry may be sent to make preparation for visits by the high-level teams comprising ministers. The state government also proposes to hold road shows in major cities in India.
The chief minister has asked the officers of infrastructure and industrial development department to finalise the list of partner countries for GIS-23. Singapore has offered to be first partner-country for the summit. Netherlands, Japan, Slovakia, Finland, the Czech Republic, Mauritius, Thailand, Nepal and Belgium have been partner countries at the UP Investors’ Summit 2018. The state government is getting in touch with them and other potential partner countries, too.
“Yes, Uttar Pradesh Investors Summit-2018 had seven partier countries. Singapore has already offered to be a partner country for the Global Investors Summit-23. We may have more partner countries this time,” said Kumar.
The Uttar Pradesh Investors Summit-2018 was organised in Lucknow in February 2018. It had received proposals for ₹4.68 lakh crore investment. The state government claims to have implemented investment proposals of ₹3 lakh crore up to now. It implemented investment proposals worth ₹80,000 crore at the third ground breaking ceremony held in Lucknow in June 2022. It has also appointed a consultant to make the state a trillion-dollar economy in the next five years.
An expert, professor Yashvir Tyagi, former head of the department of economics at Lucknow University, said: “To achieve the target of a trillion-dollar economy in the next five years, U. P. does need a big push to investment in the state. Given the spectre of recession in USA and many other countries, potential investors are in search of profitable avenues and U.P. may turn out to be an attractive destination for foreign direct investment. This way, it would be a win-win situation for both the investors and the state.”
